Oil and commodities

Article Abstract:

Commodity prices fell to extreme lows in the early months of 1999. The average prices of foodstuffs and of all commodities other than oil were both 17% lower in early 1999 than in early 1998. There are signs of recovery but long-term prospects for growth are not strong. North Sea Brent oil, for example, is $16 per barrel in the second quarter of 1999 compared to $10 per barrel in the previous quarter, but average oil prices in 1999 and 2000 look set to be $14-15 per barrel. Foodstuff and industrial material prices both look set to drop 7% during 1999.

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Oil and commodities

Article Abstract:

Petroleum prices have risen sharply and this has pushed up commodity prices as a whole since the end of 1998. The Organization of Petroleum Exporting Countries (OPEC) has reduced its production levels, and non-OPEC production has also dropped, while demand appears to be rising, especially in Far East Asia. Industrial material prices are recovering, but there has been a drop in foodstuff prices which has meant that non-oil commodity prices have dropped as a whole in 1st qtr 1999.

PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Prices-Industrial Commodities, Prices-Basic Commodity (Spot), Management, Organization of the Petroleum Exporting Countries

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Oil and commodities

Article Abstract:

A summary of oil and commodities prices in 1999 is presented along with price forecasts.

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