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| Author: | Tian, Chunrong |
| Title: | Recovery still needs time: international petroleum market in 1999 (original in Chinese) |
| Journal: | Intertrade (c)
1998 : 11, p.27-29 |
| Index terms: | OIL INDUSTRY INTERNATIONAL MARKETING INTERNATIONAL TRADE |
| Language: | chn |
| Abstract: | The international petrolium market in 1999 will still be a buyers' market. Oil price will continue lingering around a low level. Oil price of the early 1999 depends mainly on changes of weather conditions in winter of the northern hemisphere. If the temperature tends to be low, the consumption volume of oil for the purpose of warming will increase and oil price may remain firm in a short period. In the second quarter when the market demand enters the stage of slack season, oil price may fall. The world's demand for petrolium in 1999 will increase by 1,500,000 barrels per day. 2/3 of the newly increased demand will be satisfied by the increase of production by non-OPEC countries, which leaves limited space for the production increase of OPEC. |
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