No. 50



Price Plunge Brings OPEC Basket Price Into Target Band

Last week crude oil prices continued the slide begun on 30 November, despite the interruption of Iraqi crude exports and the threat of cold weather in the US raising heating oil prices. Acceptance that the market was actually over-supplied with crude oil, as OPEC and many analysts have been saying for some time, seemed to spread, to such an extent that some non-specialist investment funds which had been...