OGJ Newsletter

04/03/2000
Click here to enlarge imageWhat effect, if any, will OPEC's decision early last week to raise its production ceiling have on gasoline prices later this year?While some analysts have warned of a gasoline crisis this summer, the potential for a gasoline shortage and a summertime price spike is much lower than anticipated, says Energy Security Analysis Inc. "Crude oil stocks are simply not at dangerously low levels, as many experts have indicated," ESAI argues. Before OPEC's meeting, ESAI said the group would need to increase crude oil output from a first quarter average of 26.5 million b/d to 27.8 million b/d for the second quarter, and then probably another 0.5 million b/d in the...
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