VOL. XXXI

NO. 8

30-NOVEMBER-1987

OIL ON THE WATER

by Roy Mason

For most of this month, the volume of unsold Iranian oil - on the water, andin tank - has been casting a cloud over the market. Unsold oil on the water isbad news. But the signals had been flashing for some time before the size of theproblem was generally perceived. Gulf NOCs, including the Saudis, had beendirecting oil westwards since before the end of the third quarter. It is acomment on the inadequacy of oil market information that...