OGJ Newsletter

02/04/2002
Market MovementWill oil prices jump or slump in 2002?The state of the oil market largely hinges upon the global economy. If, as many economists believe, the global economy will bounce back in second half 2002, then the production cuts by OPEC and non-OPEC countries will have served to tighten markets and nudge prices up, even if no other factors are considered.If, as some analysts believe, the economy may be headed for a second recession after an initial recovery, then the outlook for oil demand for the full year is not any better than last year's stagnation.Oil markets are watching OPEC to see how closely its members comply with pledged output cuts. At the same time, market players a...
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