OGJ Newsletter

Market MovementIEA revises oil demand forecastOil market fundamentals point to significant future tightening in the market, says the International Energy Agency. The Paris-based agency notes that crude prices already reflect the loss of 45 million bbl of crude following Iraq's export suspension and the ongoing conflict between the Israelis and Palestinians. These factors offset weak product demand and comfortable inventories. While IEA has lowered its estimates for first quarter 2002 demand, it has raised its estimates of third and fourth quarter demand while lowering its estimates of supply from Organization for Economic Cooperation and Development countries. Click here to enlarge i...

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