April 1998

Trends and Resources

HP Impact: HPImpact: Strong long-term oil fundamentals forecast; prices to rebound

Analysts with market research firm Raymond James & Assoc. predict "extremely strong" intermediate and longer-term fundamentals of oil. According to its recent industry report, the firm expects a rebou..

Weirauch, Wendy, Hydrocarbon Processing Staff

Analysts with market research firm Raymond James & Assoc. predict "extremely strong" intermediate and longer-term fundamentals of oil. According to its recent industry report, the firm expects a rebound in oil prices – in the $18 to $22 range – within the next six to eight months because: Asia-Pacific economies should resume their "torrid growth pace" once their financial systems are restructured. Excessive OPEC production is to be a short-lived phenomenon. Excess oil production capacity is at the lowest level in decades. With strong worldwide economic growth in 1999 and 2000, this excess production buffer "could shrink to dangerously low level

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