World oil supply adequate for 93's healthy demand

This paper reports that world oil supply and demand fundamentals have changed little in the past year, bringing some stability to the market. That could change in 1993 as demand resumes a more healthy growth rate, and production declines continue in the U.S. and the C.I.S. Though there's little chance average prices will increase significantly, crude markets could be more volatile this year. Offsetting upward pressures on oil prices resulting from accelerated demand are plans by Persian Gulf producers to expand productive capacity, the possibility that Iraq will reenter the international oil market, and continued economic decline in eastern Europe and the former republics of the Soviet Union. When it's all added up, world oil supply looks more than adequate for 1993. If events occur in a particular combination, prices could weaken