Look for winter weather to be the key driver of crude oil prices in the coming months. (London Centre for Global Energy Studies forecasts for winter of 1997-1998)(Brief Article)

Look for winter weather to be the key driver of crude oil prices in the coming months, since Iraq's return to exports has not undermined prices.

So says London's Centre for Global Energy Studies, which reckons world oil demand will reach a record 76 million b/d in the fourth quarter while non-OPEC producers continue to suffer development setbacks.

"Prices look set to remain at, or close to, present levels in the coming month," said CGES. This is despite the U.N.'s decision last week to give Iraq a 1-month extension on oil sales under a rollover of a U.N.-brokered accord to raise funds for humanitarian …