James Hamilton on Oil Supplies

Lynne Kiesling

Along the same lines, James Hamilton has a good discussion of CERA’s oil supply forecasts for 2005 and what we can learn from them. One of the themes I’ve seen in the discussions about tomorrow’s OPEC meeting is the expectation that inventories have been building, and that the high inventories will contribute to the reduction in demand in the spring. Some of that shows up in what CERA had forecast for last year.