Global Oil Market Outlook Q309

While this quarterly report contains our first oil price upgrade for the year, it continues to sound a note of caution regarding the sustainability of the recent rally and the potential for further gains during the second half of 2009. Several cracks have been appearing in the fragile foundations of the oil market recovery. Oil prices may have taken a well-earned break from their relentless second quarter charge, but a mood of unrealistic optimism still permeates the exchanges and trading floors. There remains little evidence of demand improvement, while stocks remain high and supply is on the rise.

To read the full article, please choose one of the following options: