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...
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