OGJ Newsletter

07/12/1999
Scoreboard - Due to a holiday in the U.S., data for this week`s Industry Scoreboard are not available.The price for Brent crude oil has bumped back above the $18/bbl mark for the first time in 18 months, as market confidence grows in OPEC`s adherence to its cutbacks programs (see Editorial, p. 17).Dated Brent closed at $18.53/bbl in London trading on July 6, while Brent crude for August delivery closed at $18.16/bbl. OPEC ministers have agreed to hold back production at least until March 2000, in a bid to keep the Brent price in the $18-20/bbl range (OGJ, Mar. 29, 1999, p. 18).No doubt conscious of OPEC`s history of ignoring production limits, especially when prices start to rise after su...
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