Middle East Economic Survey


No 4


Market Fundamentals Have Eased, Says Deutsche Bank

The global oil market is surfing in the wake of the highest nominal oil prices since the 1980-88 Iran-Iraq war, according to Deutsche Bank analysts JJ Traynor, Adam Sieminski and Caroline Cook. Yet in theGlobal Oils 2005 report, published on 11 January, they observe that market fundamentals have eased, raising doubts that the large commercial oil companies will deliver earnings growth in...