- The Big Picture - http://www.ritholtz.com/blog -

Oil Demand versus Capacity

Posted By Barry Ritholtz On April 27, 2005 @ 11:45 am In Commodities | Comments Disabled

Our Petroleum Wednesday continues, with EIA [1]’s latest monthly forecast, which was prepared before the recent drop in the near-month futures price to just above $50 per barrel, projected WTI prices to stay above $50 per barrel and the U.S. average retail price for regular gasoline to remain above $2 per gallon on a monthly basis through 2006.


click for larger chart

Twip042005 [2]

The key to this is the expected ramp up in China’s demand for Oil. (More on this later).

>

Source:
This Week In Petroleum [3]
EIA Home > Petroleum > This Week In Petroleum   
April 20, 2005
http://tonto.eia.doe.gov/oog/info/twip/twipprint.html


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2005/04/oil-demand-versus-capacity/

URLs in this post:

[1] EIA: http://www.eia.doe.gov/

[2] Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/twip042005.jpg

[3] This Week In Petroleum: http://tonto.eia.doe.gov/oog/info/twip/twipprint.html

Copyright © 2008 The Big Picture. All rights reserved.