Tuesday, May 25, 2004

Important nuances you should know when following global oil prices:
Other analysts noted that the new oil that Saudi Arabia could pump quickly is high in sulfur content, while it is the low-sulfur "light sweet" crude that is in short supply. Refiners in the major consuming nations, including the United States and China, generally want only light sweet crude, and that is the type specified in widely quoted market prices.

The fact that Saudi Arabia has not been able to calm the energy markets with promises of more oil demonstrated just how high fears have been running about global shortages, oil industry officials and analysts said.

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