highlights w orld crude oil prices continued on a descending path during december pressured by comfort able stockpiles throughout international markets and robust wellhead production rates further signifi cant downward pressure to develop the month from decision members of organization petroleum exporting coun tries opec increase quotas 10 percent new are slated go into effect january 1 1998 overshadowed s produc tion quota iraq halt exports early in under renewed united nations for food program failed have notice counter iraqi government not participate third term was designed protest terms un aid distribution plan other developments concern ing its refusal permit weapons inspections at various sites had some limited later although these events produced rela tively short stays before began slid again several benchmark streams registered long lows this period creasing tensions per sian gulf region persistent high stock levels
