I found these and many more at OPEC.com
Oil jitters quelled as supply looks secure despite war risk Feb 18 2003
Feb 28, 2003
by Brian Nicholls, The Journal
Oil prices - a crucial factor in the inflation index - dropped from two-year highs yesterday, as the international split over whether to wage war in Iraq yawned even wider.
Bids also weakened after a source at the Organisation of the Petroleum Exporting Countries (Opec) said member nations would probably suspend output quotas and pump at will if war halted crude supplies from Iraq.
While the key US market remained closed for President's Day, London's international Petroleum Exchange showed benchmark Brent crude down 40 cents to $31.98 a barrel.
Last Friday, US prices had climbed to a fourth day peak of $36.80, nearing levels not seen since the 1991 Gulf War.
Traders said the market was weakening after these steep gains.
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Opec pledges flood of oil in event of conflict
Charlotte Denny, economics correspondent
Tuesday February 18, 2003
Oil producers will flood the world market with crude supplies if the US attacks Iraq to prevent spiralling energy costs from strangling global growth, sources in Opec promised yesterday.
The 11-member exporters' cartel will lift production-limiting quotas and "pump at will" should conflict in the Middle East put a halt to Iraq's 2m barrels a day in exports.
But the cartel declined to offer any immediate relief to the market, where mounting concerns over the repercussions of an attack have driven prices to two-year highs.
"Until war starts, there is nothing more they can do," a source said. "More production can't cool prices. They are high because of war hysteria."
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