OGJ Newsletter

04/09/2001
Market MovementOPEC accord ensures another oil price spike on the horizonAnother hefty oil price spike is headed this way, judging from an emerging consensus among analysts.Amid all the entrail-divining going on in the wake of OPEC's agreement to cut production again-this time by 1 million b/d-in order to stave off a price slump in the second half, the only disagreement about a price spike is the timing.Generally, the post-OPEC meeting view of oil markets in 2001 is that a price spike could come in May or June, if US gasoline demand remains strong in the face of higher prices. Or it could come in the fall, when refiners must begin rebuilding heating oil stocks.London think tank Centre...
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