No 23



Impact Of Iraqi Oil Export Resumption Overstated, Says HETCO

Oil market analysts have overly stressed the impact of a return of Iraqi exports to the market and the ability of the market to absorb the extra barrels, according to a report entitled The OPEC Obsession by Edward Morse of Hess Energy Trading Company (HETCO) on 2 June. Describing the issue of 3Q OPEC output as something of a market obsession, the report argues that, by and large, analysts have...