VOL. XLVI

No 18

05-May-2003

SUPPLY/DEMAND/OPEC

Call On OPEC Higher Than Markets Think, Says Merrill Lynch

The fall in crude prices in the wake of the 24 April OPEC meeting was based on an underestimate of underlying oil demand, according to Merrill Lynch analysts. In the Morning Energy Note report of 28 April, Merrill Lynch Vice Presidents Michael Rothman and Steven A Pfeifer write: Oil prices moved lower in overnight trading and on the London IPE this morning partly on assessments (which we don't...