Crude oil prices plunge despite Iraqi cutoff

Iraqi oil supplies are once again at the center of oil market concerns.Oil prices last week fell below $30/bbl for the first time in 4 months, as markets counterintuitively shrugged off Saddam Hussein's cutoff of Iraqi oil exports amid a procedural squabble with the United Nations Security Council over monitoring of its oil-for-aid program (see Market Movement, Newsletter, p. 5).In addition, a top United Nations official last week urged the council to rethink the current economic sanctions against Iraq in order to streamline the delivery of humanitarian aid to that country, according to a report from the Organization of Petroleum Exporting Countries' news agency, OPECNA.Exports ha...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected