energy information administration short term outlook july 2002 1 overview world oil markets price markers fell in june with both brent crude and the opec basket prices averaging 00 50 per barrel below may averages nevertheless marked fourth consecutive month that averaged above 22 lower end of s target range has been since march 8 is projected to remain within 28 through 2003 moderate restraint combined accelerating demand growth later into expected maintain elevated us benchmark west texas intermediate wti almost 2 than but were rising at more higher average 25 during first week figure our base case projection for 26 just 29 summer motor gasoline update national
