Title: The Iraq Factor In The Oil Market
URL(s):
http://www20.cera.com/eprofile?u=35&m=2464

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CERA's May 2001 World Oil Watch warned of how uncertainties for the oil market
would converge in June. As expected, Iraq is halting its oil exports just as
OPEC assembles for its June 5-6 meeting in Vienna to discuss whether or not to
adjust its current quota for the third quarter.

*  OPEC is likely to roll over the current quota but commit to adjust its
output if the Iraq cutoff is sustained.

*  Iraq's export cutoff sends a warning of its hostility to the concept
of "smart sanctions."

*  The fundamentals for the third quarter are tighter than in the second,
regardless of Iraq's decisions.

**end**

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E-mail Category: Alert
CERA Knowledge Area(s): Global Oil

CERA's Spring 2001 Roundtable event dates and agendas are now available
at http://www20.cera.com/event

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