Argus Americas Crude Summit - January 2009
The Global Oil Market: An Uneasy Alliance Between Paper and Physical Oil
SUMMARY: Predicting the future of oil prices will depend as much on understanding the paper fundamentals as the physical fundamentals
Tighter regulation may affect leverage, categorization of trader, transparency in futures and OTC
Even with a major economic slowdown and policies targeting conservation and alternative fuels, the underlying global oil supply chain will not rebuild enough spare capacity to allow flat or falling nominal prices