International oil summit addresses high oil prices

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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