VOL. XLV

No 15

15-April-2002

SUPPLY/DEMAND

IEA Sees Oil Price Driven ByFundamentals, Geopolitical Risk Premium

TheInternational Energy Agency (IEA) said that a combination of marketfundamentals and a geopolitical risk premium have driven crude oil prices up by$7-8/B since the last week of February. In its April monthly Oil Market Report, the IEA said thatsupportive market fundamentals included the US economic recovery, falling USproduct stocks, strong US gasoline demand and reduced OPEC crude oil...