This article is 20 years old. Images might not display.
In a statement Purnomo said, “The renewed surge in oil prices is expected to be temporary due to supply concerns in the US and Mexico in the wake of hurricane Ivan.”
“We hope this will be temporary because of factors like the Ivan hurricane. US oil production may have dropped by almost 20% as a result of the hurricane, which also hit production levels in Mexico,” he added.
Word in the market seems to concur with Purnomo’s point of view but has added the rise of supply concerns at Yukos as another reason for the jittery prices.
