VOL. XLVII

No 21

24-May-2004

OIL PRICES

Limited Spare Production Capacity And Disruption Threats Behind High Oil Prices, Says PIRINC

Oil prices, like those for other commodities, have risen as spare production capacity has diminished and industrial stocks have tightened. This, combined with the threat of disruption in producing countries and the specific characteristics of the tight US gasoline market, has helped oil prices move to new historic highs, according to a report entitled Oil and the...