Paul Horsnell Prospect Quotations

The most immediate concern remains Iraq, where the prospect of further severe political and economic setbacks appears to be increasing.

Developments are continuing to enforce a very downbeat view on prospects for the Iraqi oil sector. In all, the recently increased number of analyses implying imminent and unavoidable price collapses do seem a little premature.

The market faces the prospect of years without sufficient flexibility or insulation from shocks during a period of extreme geopolitical stress.