The spectre of weakening prices

Published on 16 August 2010

Crude oil and refined product markets are in significant surplus currently which sets the scene for some near-term weakness in prices. A lacklustre price trend is also expected to extend into 2011 reflecting the likely persistence of well supplied markets and historically high inventories. Weak fundamentals relate to OPEC and non-OPEC supply additions and an increasingly lacklustre economic
backdrop.

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