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The Balancing Act: Perspectives of the Global and Domestic Oil Markets. Frederick J. Lawrence Vice President - Economics and International Affairs. Alien Vs. Predator. Demand appears to be driving Fundamentals in a Tight Market – is it Sustainable?

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the balancing act perspectives of the global and domestic oil markets

The Balancing Act:Perspectives of the Global and Domestic Oil Markets

Frederick J. Lawrence

Vice President - Economics and International Affairs

alien vs predator
Alien Vs. Predator
  • Demand appears to be driving Fundamentals in a Tight Market – is it Sustainable?
    • Global Economy, Asia Growth Components & More?
    • World demand up an estimated 2.7 Mmb/d (3.4%)
    • US demand up 460,000 b/d (2.4%) & China demand up an estimated 860,000 b/d (16.5%) in 2004.

+

  • Supply Reacts to Demand and Price but hitting Capacity limitations
    • OPEC & Non-OPEC Potential – Market Share vs. Reserves
    • Spare Capacity & Just in Time Behavior – narrow the gap
    • Energy Security, Interdependence & Diversification – growing connectivity between foreign and domestic policy

= INCREASED VOLATILITY & FEAR FACTOR

conclusion
Conclusion

Demand calls shots until proven differently

Market volatility looks sustainable

Integrative solutions needed

There will be a sequel

Demand calls shots until proven differently

Market volatility looks sustainable

Integrative solutions needed

There will be a sequel

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