world oil markets in the ieo2004 forecast opec export volumes are expected to more than double while non suppliers maintain their edge over overall production prices projected rise gradually through 2025 as resource base is further developed throughout most of 2003 crude remained near top range preferred by producers orga nization petroleum exporting countries 22 28 per barrel for basket price pro ducers continued demonstrate disciplined adherence announced cutbacks upward turn was brought about a combination three factors first general strike against chavez regime resulted sudden loss much venezuela s exports although other agreed increase capacities make up lost venezuelan output obvious strain on worldwide spare capacity kept high second volatility exacerbated inter nal conflict nigeria third prospects return normalcy iraqi sector uncertain residual post war turmoil iraq labor has ended
