re: oil future prices (ian) Hi Ian .... you said:
"Russia is pretty irrelevant IMO, as the constraint in Russia is export capacity (eg pipelines), not finding the stuff."
I thinks that the Yukos dispute is anything but irrelevant. Yukos is, after all, the world's No. 2 oil producer and exporter. It produces 1.7 million barrels a day and to put that volume in perspective, that is as much oil as Iraq pumped last month.
If Yukos closes for any significant period of time, oil prices will spike very sharply.
Like you (Yukos notwithstanding) I believe that the era of cheap oil is long gone.
Have a good day.
oil future prices, page-9
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