VOL. XLIII

No. 47

20-November-2000

US

US DoE Sees Crude Prices Defying Gravity But Predicts $4-5/B Fall Over Winter

Oil prices are defying gravity, remaining well above $30/B for WTI despite estimates of global production in excess of demand requirements and a further round of OPEC production increases, according to the US Department of Energy (DoE). In its November Short-Term Energy Outlook, published 8 November, the DoEs Energy Information Administration (EIA) says that, Israeli/Palestinian...