VOL. XLVII

No 11

15-March-2004

Investment Funds Overriding Effect Of Fundamentals On Market, Says SG

Oil market fundamentals suggest an imminent decline in oil prices, yet markets are rising despite winter being almost over, according to Société Générale (SG) Economist Frédéric Lasserre. In the report Energy Specials: A Change in Reference Point, he argues that the price rises contradict the consensus of supply/demand forecasts, which envisage a market oversupply of 4mn b/d in 2Q04 if OPEC...