VOL. XLI

No. 40

5-October-1998

OPEC

IMF Lowers Oil Price Projections For 1998 And 1999

The International Monetary Fund (IMF) has lowered its oil priceprojections to $13.28/B for 1998 and to $14.51/B for 1999, compared to a price of $19.27/Bfor 1997, using a simple average of spot prices of UK Brent, Dubai and West TexasIntermediate crude oil. In its publication World Economic Outlook, October 1998,the IMF cited deteriorating economic conditions in Asia as a key factor behind the furtherfalls in...