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OPEC sees softer oil demand, prices in coming months - WSJ »

OPEC sees softer oil demand, prices in coming months: report

NEW YORK (MarketWatch) — Mohammad Alipour-Jeddi, the top petroleum market analyst at the Organization of Petroleum Exporting Countries, said Saturday he expects global demand for oil to weaken in coming months, according to a Wall Street Journal report. In a speech delivered at the International Monetary Fund, Alipour-Jeddi said the global oil market remains well supplied while seasonal factors point to softening demand in coming months. Demand could weaken further if the global economy slows. However, the OPEC analyst said the sharp spike in oil prices over the last six months was less due to fundamentals than to a weaker dollar and hedges against inflation risks. “Over the last few months, fundamentals and financial market developments have been moving the oil market in opposite directions,” the Journal quoted Alipour-Jeddi as saying. “How long this duality can continue is a key question facing the oil market in the coming months.”
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Original post by Forextvblog

This entry was posted on Saturday, April 12th, 2008 at 3:28 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “OPEC sees softer oil demand, prices in coming months: report”

  1. OPEC sees softer oil demand, prices in coming months: report Says:
    April 12th, 2008 at 6:11 pm

    […] Forex Blog by Lloyd wrote an interesting post today onHere’s a quick excerptOPEC sees softer oil demand, prices in coming months: report April 12th, 2008 NEW YORK (MarketWatch) — Mohammad Alipour-Jeddi, the top petroleum market analyst at the Organization of Petroleum Exporting Countries, said Saturday he expects global demand for oil to weaken in coming months, according to a Wall Street Journal report. In a speech delivered at the International Monetary Fund, Alipour-Jeddi said the global oil market remains well supplied while seasonal factors point to softening […]

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