Has The Market Turned? No, Says IEA
Asking itself the question Has the oil market turned? inthe latest (October) issue of its Monthly Oil Market Report, the International EnergyAgency (IEA) responds with a firm negative. Noting that "a growing number of peoplehave concluded that the rally in oil prices in September signals the end of the pricecollapse of 1998," the IEA snappily concludes: "We disagree." It explainsthat most of the upward pressure on prices...