PAJ President: ‘Crude Oil Became Higher than Actual Supply Demand Balance’

摘要

President Tsutomu Sugimori of the Petroleum Association of Japan (PAJ) commented on the current crude oilmarket at a regular press conference on February 17 that the price is “hugely more supported by a sense of expectationsthan the actual demand supply balance,” pointing out the price level is excessively elevating. He also commented, “If anegative event occurs, the price trend will be unstable,” expressing his view that the price may drop if the market loses asense of expectations.