Futures oil market outlook
We expect the broader expansion of global economic activity in 1995 to more than offset the anticipated slowdown in the US economic growth. This should result in worldwide oil demand growth in excess of 1 million barrels per day and firmer oil prices. This comes on the heels of nearly identical growth in 1994 and should be followed by an even larger increase in 1996. This year`s demand growth comes against a backdrop of flat OPEC production and an increase in non-OPEC supplies that will fall short of the expected increase in consumption. Some degree of political upheaval in at least a half dozen important oil exporting nations could also have implication for crude supplies. One major wildcard that remains for global oil markets is the status of the United Nations` sanctions on Iraqi exports and the timing of when these sanctions are to be eased or lifted completely.
- Publication Date:
- OSTI Identifier:
- Report Number(s):
Journal ID: AABUD2; ISSN 0149-1423; TRN: 95:004859-0032
- Resource Type:
- Journal Article
- Resource Relation:
- Journal Name: AAPG Bulletin; Journal Volume: 79; Journal Issue: 6; Conference: American Association of Petroleum Geologists (AAPG) Southwest section meeting, Dallas, TX (United States), 3-7 Jun 1995; Other Information: PBD: Jun 1995
- Country of Publication:
- United States
- 02 PETROLEUM; OPEC; MARKETING; PETROLEUM; SUPPLY AND DEMAND; PETROLEUM INDUSTRY; FORECASTING; ECONOMICS
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