Global Oil Prices Drop With Good Weather News

December 10, 2004

VIENNA – The Secretariat of theOrganization of Petroleum ExportingCountries (OPEC) announced Mondaythat the price of crude oil fell $0.07 lastweek to an average of $38.50 per barrel.The average price of OPEC crude in 2003was $28.10.The 11 OPEC members, Saudi Arabia,Algeria, the United Arab Emirates,Indonesia, Iraq, Iran, Kuwait, Libya,Nigeria, Qatar and Venezuela, have set anofficial oil price target band of $22-28 perbarrel.In October, the price of oil skyrocketedto $45.37, an OPEC record.Recent price reductions are partiallydue to reports that the winter season inthe United States, the world’s largest consumerof petroleum, will be less severethan initially predicted by meteorologists.The OPEC Secretariat said prices willlikely continue to drop unless thesereports change.

You may be interested

Adaptive surfing, part III: Riding the waves with Noah
sports
85 views
sports
85 views

Adaptive surfing, part III: Riding the waves with Noah

Ellen Zoe Golden - May 25, 2018

Part III in a series on adaptive surfing in Costa Rica. Read Part I, about the country's association for disabled…

It’s frog orgy season
Environment and Wildlife
1188 views
Environment and Wildlife
1188 views

It’s frog orgy season

Lindsay Fendt - May 25, 2018

The rainy season is upon us. For many of us that means hiding indoors for the next few months, but for Costa…

Costa Rica’s guilty voters
No Sugar Please
149 views
No Sugar Please
149 views

Costa Rica’s guilty voters

Álvaro Murillo - May 25, 2018

By what I have done, and by what I have left undone. A relative of mine is 70 years old…