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Vol. 8, No. 1 Week of January 05, 2003
Providing coverage of Alaska and northern Canada's oil and gas industry


Oil prices drop after OPEC member hints of a supply hike

Crippling effect of general strike in Venezuela on that country's oil production and possible war with Iraq have been pressuring world crude prices upward

Brad Foss

Associated Press Writer

A hint from Kuwait's oil minister that OPEC would consider increasing supplies if prices remained at current levels for much longer soothed energy traders Dec. 30 and cooled red-hot energy markets around the world. Light, sweet crude for February delivery slumped $1.35 to settle at $31.37 a barrel....

    [additional news subjects in this story]

OPEC hint moves prices down

Venezuela, Iraq upward pressure on prices


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