OGJ Newsletter

U.S. INDUSTRY SCOREBOARD 4/12 [43,644 bytes] Listen for sighs of relief throughout the oil industry now that the price of Brent crude oil futures has pushed above $15/bbl for the first time since May 1998. While few expect the improvement to last long, it appears the relative boom stems from last month's decision by OPEC and some non-OPEC nations to cut production by a further 2.1 million b/d (OGJ, Mar. 29, 1999, p. 18). At closing Apr. 6, prompt-delivery Brent stood at $14.49/bbl, while May-delivery Brent was $15.05/bbl, having reached a short-term peak of $15.28/bbl on Mar. 31. By closing Apr. 7, however, prompt Brent had fallen to $14.17 and Ma...

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