Oil terrorism fears complicate OPEC strategy

Is the Organization of Petroleum Exporting Countries taking a just-in-time approach to supplying the world oil market?Well, no. The term, a popular business buzzword of the 1990s, is a misnomer here. But there is little doubt that OPEC remains determined to match its supply to seasonal oil demand. That in turn has prevented refiners from building product stocks to comfortable levels in anticipation of robustly rising demand, especially ahead of the US summer driving season. But the situation is more complicated than it appears.Keeping stocks tightKeeping refiners from building up inventories has proven a winning strategy in support of high oil prices the past 2 years, according to Centre ...

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