Anyone who is able to predict what the next year has in store for the oil market would soon be very rich.In the energy sector,it is often easier to project longer-term trends,looking forward several decades,than it is to predict what will happen over the course of the next week.During 2003,for example,it would have been nearly impossible to predict the effects of the developments that had the greatest impact on the oil market:the rate of global economic recovery;the strike in Venezuela;the harsh winter in many parts of the northern hemisphere;unrest in Nigeria;the temporary shutdown of nuclear reactors in Japan;and the war in Iraq.
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