VOL. XLIII

No. 41

9-OCTOBER-2000

OPEC

SPR Crude Swap Awards Take Heat Out Of Oil Prices But For How Long?

After much market speculation about the level of interest in the US Governments plan to release crude oil from its Strategic Petroleum Reserve (SPR), the full swap offer was taken up and immediately traders reacted by reducing crude prices. Whether this much sought-after downward movement will continue to bring crude prices within OPECs target range of $22-28/B for OPEC basket crudes is a...