VOL. XLII
No. 38
20-September-1999
OPEC
Which Is The Better Market Barometer: Stocks Or Prices?
In the market overview feature article in its latest(September) Monthly Oil Market Report (MOMR), the International EnergyAgency (IEA) notes that some oil producers are suggesting that stock levelsprovide a better barometer of the state of the global oil market than doprices. It goes on to comment in this connection: "Recently the twomeasures, prices and stocks, have been giving different readings....
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