A Growing Glut In Sour Crudes & Heavy Fuel Oil.

Before the Dec 26 Asian disaster, there was a satiate in sour crude oil and heavy combustible matter oils in Asia, which had become a dumping clod for the world's unwanted grades. Singapore was overflowing with heavy combustibles oil as a deep contango spurr stockpiling and high prices throttl Chinese demand.

Prominent oil analyst Geoff Pyne writing in the Sempra Oil Report for December 2004 noted that world in a raw state oil stocks had grown in the last sum of two units months and were now "above normal in greatest in quantity OECD regions". In another observasion, Pyne said "the quality of OPEC's output has improved, as