VOL. XXXVII

NO. 42

18-JULY-1994

Supply/Demand

Oil Markets Remain Nervous Awaiting Resolution Of Nigerian Conflict

The all-out strike by the two Nigerian oil workers' unions made marketsnervous last week, with prices rising despite the fact that production andexports remained normal. While many industry officials dismiss the possibilityof an immediate and serious disruption of supplies, there is concern that aprolonged strike could lead to a gradual reduction of Nigeria's 1.6mn b/d ofoil exports....