VOL. XXXI

NO. 38

27-JUNE-1988

CONCERN DEEPENS OVER MARKET OUTLOOK

It is still very much an open question what fate ultimately has in store fortoday's weak and nervous oil market: a gradual restoration to health under theimpact of increasing demand as the third quarter progresses or a messy crashunder the pressure of excess supply?

It is clear that, as far as the buyers are concerned, this is a marketdominated by deep fears of the risks involved. Despite recent falls in productprices, refining...