Data uncertainty to leave OPEC at status quo

02/02/2004
Will another episode of "The Missing Barrels" trip up the Organization of Petroleum Exporting Countries' efforts to sustain a $25/bbl OPEC basket price?Hints are coming from OPEC ministers that the group is likely to stand pat on quotas at the Feb. 10 ministerial meeting in Algiers. That decision may expose the group to price risk later—and, again, confusion over supply and demand data appears to be the culprit.Tight or comfortable?There is much uncertainty today over the actual status of oil markets, notes London-based Centre for Global Energy Studies. The current level of oil prices, in tandem with observable commercial stocks, suggests the market is very tight, CGES said. How...
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