VOL. XLVI

No 30

28-July-2003

OPEC

SUPPLY/DEMAND

ABN Amro Raises 2004 Oil Price Forecast But Sees Weakness From 2005

ABN Amro has raised its oil price projection to $23/B for Brent in 2004, up from $19/B based on projections of global demand growth of 1.8% and continued success in OPECs defense of its preferred $22-28/B price band. In its 3 July report, Oil Macro 2003 And Beyond, ABN Amro said it expected to see an average Brent price of $25.50/B for the remainder of 2003 based on a slow recovery of...