VOL. XLIII

No. 24

12-June-2000

IEA

IEA Sees Concerns Over Product Supplies Dominating Market Thinking, Keeping Crude Prices High

Global crude oil supplies exceeded demand by almost 3mn b/d in May, and for the second quarter a stock build of 1.9mn b/d is projected, yet according to the International Energy Agency (IEA) market forces appear to be working to keep crude oil prices high. In the June issue of its Monthly Oil Market Report, the IEA says that, despite an OECD industry stock build of...