CERA:Global oil price likely to fall; N. American gas supplies to tighten

02/24/2003
The global oil industry is correct to fear a price drop from current levels and is wise to expect continued volatility during 2003 and beyond, according to Ann-Louise Hittle, Cambridge Energy Research Associates senior director, upstream oil.During a panel session Feb. 12 featuring CERA researchers outlining their global energy outlook by region, Hittle said four uncertainties are driving current oil prices: US energy market fundamentals and the economy, worldwide cold winter weather, the labor strike in Venezuela, and fears of war in Iraq.She presented three 2003 oil price scenarios depending upon whether military action is taken against Iraq.If there is no war, Hittle predicted an avera...
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