Supply concerns arise amid expectations of price stability

Just as some analysts are suggesting that energy prices may be stabilizing at lower levels, there is fresh evidence that oil markets are again tightening.Jean-François Giannesini, advisor to the chairman of France's Institut Français du Pétrole, last week predicted oil prices would stabilize in the near term. He said a slowdown in global economic growth, greater quota compliance among members of the Organization of Petroleum Exporting Countries, and exploration and production programs launched by oil companies before the 1998 price collapse would help steady oil prices.However, oil prices jumped late last week in response to massive shutdowns of facilities in the UK a...

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