Oil Demand versus Capacity

Our Petroleum Wednesday continues, with EIA’s latest monthly forecast, which was prepared before the recent drop in the near-month futures price to just above $50 per barrel, projected WTI prices to stay above $50 per barrel and the U.S. average retail price for regular gasoline to remain above $2 per gallon on a monthly basis through 2006.


click for larger chart

Twip042005

The key to this is the expected ramp up in China’s demand for Oil. (More on this later).

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Source:
This Week In Petroleum
EIA Home > Petroleum > This Week In Petroleum   
April 20, 2005
http://tonto.eia.doe.gov/oog/info/twip/twipprint.html

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