Oil's Recent Rise Not as Familiar as It Looks - washingtonpost.com
Interesting and fairly comprehensive article on the recent rise in oil prices. Unlike many/most news articles on the topic, it brings a variety of questions/concerns/perspectives, including the voices warning that demand could soon outpace supply:
Traders say that they are not buying and selling on whims, however. The unusually thin cushion of excess oil production around the world and the rapid growth in consumption in China and India make this rise in prices different from earlier oil price spikes, they argue. That combination, the traders add, leaves the oil markets one incident away from an even steeper increase.
"There is no current shortage, but no one deals on today's market. They make deals based on tomorrow's market. And that's what they're worried about," said Joseph Stanislaw, an oil consultant and senior adviser to the accounting firm Deloitte & Touche.
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