VOL. XLII

No. 30

26-July-1999

OPEC

Crude Oil Prices Recover After Slide Caused By PDVSA ChiefsStatement

Crude oil prices staged a notable rebound late last weekfollowing a slide on Tuesday (20 July) occasioned by comments by Mr. RobertoMandini, President of Venezuelas state oil company PDVSA, which the marketconstrued as bearish. Returning to a theme to which he had already given voiceearlier this month (MEES, 19 July), Mr. Mandini told a Venezuelancongressional hearing on 20 July that, in his...