The Oil Market Refuses to Heed Positive News
Article Abstract:
Prices of oil have been fluctuating abruptly on conflicting news of global oil supply and demand, fears of disruptions to supplies coming out of Iraq, uncertainty over finances and production management at Russian petroleum player Yukos, and growing demand in China. Saudi Arabia has stated it can step up production capacity immediately to meet international requirements if needed, but crude oil inventories and gasoline supplies in the U.S. have fallen, roiling the market once more. Some experts are skeptical that the Saudi offer would have much impact on the oil market, given that Saudi oil is principally heavy and high in sulfur, whereas market demand is far greater for the light sweet grade of oil.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 2004
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A Tanker Shortage Contributes to Rising Oil Costs
Article Abstract:
Shipping rates have reached record highs with the higher global demand for oil and only 1,500 tankers available worldwide.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 2004
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Comment about this article or add new information about this topic:
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