1 statement of adam e sieminski for the us senate committee on governmental affairs world oil market outlook march 24 2000 is a director and energy strategist at db alex brown llc opinions expressed in this testimony are those author do not necessarily reflect views deutsche bank or highlights my view prices likely to come back down toward 20 22 wti but it may take until second half get there we believe new 25 30 price paradigm now any more than was 5 10 1998 however opec saudi arabia have desire will bring quickly into equilibrium markets been extremely volatile tend be self correcting current high stem from reaction period low caused by an ill timed output increase november 1997 supplemented rampant quota cheating just as asian demand plummeted during its contagious financial crisis has staged dramatic comeback remains highly sensitive
