Talk of oil price 'soft landing' premature?

03/31/2003
Is it premature to talk of a postwar "soft landing" for oil prices?The stunning plunge in oil prices in the days just before the Mar. 19 launch of military action against Iraq by US-led forces inspires a lot of head-scratching.For several months now, traders have kept oil prices buoyed well above $30/bbl out of concern over loss of oil supplies resulting from a war in Iraq. The concern was not so much over the immediate loss of Iraqi supplies; the presumption was that the Organization of Petroleum Exporting Countries would readily take up that slack. The greater concern was over the possibility of additional Persian Gulf supplies lost from a broader conflict at a time when Venezuelan crud...
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