New supply concerns displacing oil glut consensus

For some weeks now, there have concerns of too much oil coming onto the market. This line of thinking presumes that unless the Organization of Petroleum Exporting Countries initiates a production cut at its June meeting, oil prices will plunge.Even the president of OPEC, Hamad al-Attiyah, chimed in, suggesting that cuts at the Doha meeting were inevitable and that the only question was by how much.That apparent consensus is eroding. And there is not one culprit but several.Market Hotline last focused on the return of an oil price risk premium, in the form of perceived risk to Saudi oil facilities, in the wake of the terrorist attacks in linchpin supplier Saudi Arabia (OGJ Online, May 16, ...

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