Warm weather outlook lowers oil prices

THIS week saw oil prices recover from the large losses of the previous week, spurred on by an armed attack on a Nigerian pipeline and larger-than-expected declines in United States heating oil inventories following frosty weather.

23 December 2005
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However, prices now look likely to tread water over Christmas-New Year and beyond, possibly until OPEC meets at the end of January to discuss further production cuts.

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