HP Impact: HPImpact: Look beyond price of oil, cautions market analyst
"A quiet demand crisis is unfolding that will change the energy market," says Steve Terry, with PEL, a Division of KBC Process Technology Ltd. Speaking at the DeWitt World Petrochemical Review, he s..
"A quiet demand crisis is unfolding that will change the energy market," says Steve Terry, with PEL, a Division of KBC Process Technology Ltd. Speaking at the DeWitt World Petrochemical Review, he stressed that it is not simply energy prices that warrant watching. The real change emerging is occurring within the "manager of the oil price," according to Mr. Terry.
Energy prices, in particular crude oil prices, are not determined by the free market. Crude oil pricing is actually set by the managers of the oil supply, i.e., crude oil producers, he claims.
Since December 2003, oil prices have remained above $25/bbl and set new peak prices during the first quarter of 2005. O
Log in to view this article.
Not Yet A Subscriber? Here are Your Options.
1) Start a FREE TRIAL SUBSCRIPTION and gain access to all articles in the current issue of Hydrocarbon Processing magazine.
2) SUBSCRIBE to Hydrocarbon Processing magazine in print or digital format and gain ACCESS to the current issue as well as to 3 articles from the HP archives per month. $409 for an annual subscription*.
3) Start a FULL ACCESS PLAN SUBSCRIPTION and regain ACCESS to this article, the current issue, all past issues in the HP Archive, the HP Process Handbooks, HP Market Data, and more. $1,995 for an annual subscription. For information about group rates or multi-year terms, contact email Peter Ramsay or call +44 20 3409 2240*.
*Access will be granted the next business day.
From the Archive