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Coping with unexpected oil demand movements

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Abstract

Continuous upward revisions to world oil demand projections for 2003 and 2004 are compared with the downward revisions that took place in 1998 and 1999, following the 1997 Asian economic crisis. Demand leads supply, in the current case, resulting in a time-lag in the whole supply chain, while supply led demand half a decade ago, with the OECD's commercial stocks reaching record highs. Copyright 2004 Organization of the Petroleum Exporting Countries.

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Article provided by Organization of the Petroleum Exporting Countries in its journal OPEC Review.

Volume (Year): 28 (2004)
Issue (Month): 3 (09)
Pages: 241-245
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Handle: RePEc:bla:opecrv:v:28:y:2004:i:3:p:241-245

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