CASPIAN OIL OUTLOOK-1: Caspian oil not likely to fill market void or depress prices

A revival of the 19th century “Great Game” has been playing out over the past decade for control and development of untapped oil and gas resources in and around the Caspian Sea.How much of this oil rush is just hype, and how much will actually come to global oil markets?Here are the main conclusions from a close look: The Caspian basin, full of uncertainty but with alluring oil production potential, continues to be a hotspot for international oil company (IOC) investment, while Western policymakers are counting on the region to emerge as a new oil supply center and bring down soaring oil prices. A lack of oil export infrastructure and a continuing dispute over the legal status...

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