VOL. XLV

No 35

2-September-2002

OPEC

OPEC Supply Reassurances Halt Crude Price Rise

Crude prices rose early last weekfor two reasons: on 26 August US Vice-President Dick Cheney advocatedpre-emptive military action against Baghdad, whileearlier VenezuelasPresident Hugo Chavez had said his country would oppose any increase in quotasby OPEC at the next ministerial meeting, scheduled for 19 September in Osaka. Cheneysview was seen by markets as a reaction to growing doubts among Washington veterans...