Citation

Petroleum Economist 2004; 71(5): e47.

Copyright

(Copyright © 2004)

DOI

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PMID

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Abstract

Suicide attacks on the Basra oil terminal exacerbated fears that Iraq will fall short of its export-growth targets. US crude stocks remained at historically low levels, i.e., 295.6 million bbl for the week ending 4/16/2004, 19.3 million bbl below the 5-yr avg. This, together with Middle East tensions, will keep crude prices high over the next quarter. A 0.56 million bpd jump in refinery throughputs suggests seasonal maintenance is ending and refineries will be striving to boost production to meet summer demand. However, supply is expected to stay very tight.

Language: en