Energy markets remain tight

01/17/2005
The US Energy Information Administration expects growth in world demand for oil to slow this year in reaction to high prices, down 23% to an increase of 2 million b/d. But that still would outstrip the expected increase of crude production among nations outside the Organization of Petroleum Exporting Countries and would keep world markets tight, EIA said.Adnan Shihab-Eldin, OPEC's acting secretary general, said crude prices "appear to be moving toward [market] fundamentals" in a retreat from nominal record high levels late last year. OPEC is projecting oil demand growth of 1.6 million b/d in 2005, with Asia accounting for much of that increase. That would require OPEC to supply 28 mil...
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