VOL. XLVII

No 01

5-January-2004

OPEC

OIL PRICES

Non-Market Forces Influencing Prices, Says Morse

Commenting on the current state of the oil market in the 16 December 2003 edition of the HETCO Market View, Edward Morse writes that since the oil market has become used to geopolitics affecting prices, it is therefore not surprising that non-market forces are again playing an important role in determining prices. Under the heading Money, Inventories and Russia, Mr Morse says four bullish factors are in...