OGJ Newsletter

Market MovementUS gasoline markets likely to tightenLook for US gasoline markets to tighten in the weeks heading into the summer driving season.Despite all the gloom and doom over the state of oil demand in the US-wherein the country last year experienced its first drop in oil demand in 10 years (0.3% to 19.65 million b/d)-gasoline and distillate demand showed surprisingly robust growth in 2001, noted London-based Centre for Global Energy Studies in its Global Oil Report Market Watch.While the outlook in 2002 looks decidedly less sanguine for distillate for a number of reasons, the underlying fundamentals for gasoline remain strong, with rising prospects for price increases in the peak se...

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