Now you can worry about $50/bbl oil

05/24/2004
By Bob Williams, Executive EditorNow that the milestone has been reached, oil markets should worry less about $40/bbl oil and more about $50/bbl oil.Even Saudi Arabia's pledges and certain follow-through to supply more crude to the market has done little to chill a white-hot oil market. The fact remains that there isn't that much room to boost supply without obliterating what little spare capacity cushion there is. Considering that a major contributor to the state of current high oil prices is a lack of inventory cushion, erosion of the production capacity cushion at the same time is a prescription for even higher prices.And it may just take $50/bbl or more to undermine one of the...
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