july 8 1999 highlights world oil markets prices despite a substantial increase in spot for crude at the very end of june figure 1 we have not significantly changed our price forecast this update raised slightly next couple months 2 however story is essentially same combination demand and supply changes will probably prevent even normal seasonal inventories year resulting net inventory draw averaging over 800 000 barrels per day all are expected to remain more or less flat until summer when begins exhibit some larger increases from that point see rising gradually through 2000 as continue decline toward levels by would be about 17 25 barrel which translate into wti 19 75 uncertainty range suggest within 3 4
