Editorial- The oil market's buffers

Markets will cycle through the tightness that has elevated prices of crude oil and petroleum products this year. What they don't need are avoidable wild cards.The broad forces influencing oil prices are demand strength, inventory weakness, and declared production restraint by the Organization of Petroleum Exporting Countries. Variables difficult to predict wiggle within each. And with one of them, inventories, consuming-country governments have more influence than they've so far been willing to exert.Role of demandPrices can't and won't rise forever. At some point, demand will subside. Some of the effect will be from consumption restraint driven directly by price. Some wil...

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