VOL. XLIII

No. 51

18-December-2000

OPEC

Crude Price Fall Continues As OPEC Thoughts Turn To Production Curb

After falling about $6.50/B over the previous two weeks, the price of crude oil rallied briefly last week as Iraqi exports failed to resume as quickly as expected, but on balance the benchmark blends lost value. Although Iraq and the UN had agreed that exports could resume, a number of factors delayed the resumption until midweek. Meanwhile, US heating oil stocks fell as cold weather...