OGJ Newsletter

12/18/2000
Market Movement Click here to enlarge imageIEA sees oil market cooling offIEA, in its December Oil Market Report (OMR), suggests that the market is easing after all. Industry stocks of crude oil in OECD countries are up, refining margins are down, and demand growth is mixed.This suggestion is coupled with a warning that stocks have not returned to comfortable levels, however, and that "only when stocks build ahead of peak demand can market instability be trimmed."Although inventories remain low by historical standards, IEA reports that OECD stocks moved up 7.6 million bbl in October to total 2.56 billion bbl. This, along with the fact that prices did not spike at the start of December wh...
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