International oil summit addresses high oil prices

05/24/2004
Doris LeBlond, OGJ CorrespondentFactors driving the unprecedented long period of high oil prices and their effects on oil supply, demand, and the oil company-oil service company relationship were dominant themes at the fifth international oil summit in Paris Apr. 29. The summit was organized by Institut Français du Pétrole (IFP), Paris-based oil and gas consultant SPTEC, and publisher-consultant Pétrostratégies.Both economic and political explanations were offered to explain the consistently high oil prices: increasing demand growth from China and from the US, where a tight products market also is fueling price volatility and speculation; the higher call on Organizatio...
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