April 2003

Trends and Resources

HP Impact: Weakening in crude fundamentals forecast

The crude oil markets have been plagued by uncertainties that have elevated the role of market psychology in shaping prices. As a consequence, prices have been volatile and generally st..

Weirauch, Wendy, Hydrocarbon Processing Staff

The crude oil markets have been plagued by uncertainties that have elevated the role of market psychology in shaping prices. As a consequence, prices have been volatile and generally stronger than warranted. Looking forward, Energy Security Analysis, Inc. (ESAI) believes, "Some of these uncertainties will evaporate and others persist. But along the way, expect the supply/demand fundamentals to send some strong signals, even through the fog of war." Projections are beginning to indicate a sizeable crude oil surplus even with a forecast reduction in Iraqi output. "The increase in Saudi output, coupled with recoverin

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