SUBROTO SEES OIL MARKET CONTINUING BULLISH
Indonesian Energy Minister Subroto said
he sees the oil market continuing bullish, with underlying
demand expected to rise later in the year.
    He told a press conference in Jakarta at the end of a
two-day meeting of South-East Asian Energy Ministers that he
saw prices stabilizing around 18 dlrs a barrel.
    "The sentiment in the market is bullish and I think it will
continue that way as demand will go up in the third or fourth
quarters," Subroto said.
    Asked about the prospect for oil prices, he said: "I think
they will stabilise around 18 dlrs, although there is a little
turbulence ..."
    "Of course the spot price will fluctuate, but the official
price will remain at 18 dlrs," he added.
 REUTER
