VOL. XLV
No 22
3-June-2002
SUPPLY/DEMAND
High Stocks Shaping Market, SaysABN-AMRO
Despitethe uncertainty in global economics and politics, oil prices are not rocketingupwards now because of high inventories, according to ABN-AMRO. In the OilCommentary report of 24 May, ABN-AMRO analyst Jan Stuart wrote: There issimply much more oil in storage now than there was when prices rallied in 1996and 1999-2000. At the end of April there was still a 150mn barrels surplus inon-land inventories in OECD...
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