VOL. XXXVI

NO. 41

12-JULY-1993

Market Prices Weaken Under Threat Of Mounting Oil Supply

Crude oil prices have remained in the doldrums this week, with Dated Brenttouching as low as $16.50/B on Thursday, under the market-perceived threat ofmounting supply from various quarters. Relevant bearish factors include: continued quota indiscipline by OPEC as a whole; a sharpincrease in supply fromKuwait as it moves to its declared production target of 2.16mn b/d by September(some 400,000 b/d above the...