The demand for oil-based products will be poor in 2003 owing to low economic growth impacting on oil...
The demand for oil-based products will be poor in 2003 owing to low economic growth impacting on oil sector prices. That is the conclusion of Sarasin's Simon Wilson, theme leader for global energy. He says: 'Our long-term economic projection is for a protracted period of anaemic growth, which means demand for petroleum products is likely to be weak. 'Following prolonged periods of oil price strength, which we have experienced for the past three years, the correlation between the demand for oil and GDP growth has tended to be lower. The combination of these two factors, we believe, l...
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