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  • United States: Crude oil prices


    M. R. Simmons

    Oil markets in 2001 behaved like the proverbial month of March, coming "in like a lion and going out like a lamb." The year began with a nasty energy crisis rapidly descending upon many parts of the globe. By year-end, this "crisis" had faded so fast that some suspected it was simply concocted. As 2002 begins, a lingering question is whether oil markets are now so saturated that the industry is exposed to a glut once again, or could the market be so closely in balance that either strong OPEC compliance or an increase in demand re-creates the alarming tightness of a year ago?

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