VOL. XXXII

NO. 43

31-JULY-1989

THE MARKET DOWNTURN: FUNDAMENTAL SWITCH OR TEMPORARY BLIP?

After many months of apparently serene confidence in firm prices, the playersin the oil market now seem to be afflicted with tremors of uncertainty andforebodings of dire developments to come. Last week the market plunged over adollar a barrel and further downward movement looks to be inevitable. Can it bethat the fundamentals are now reasserting themselves after having been so longobscured by day-to-day...