Natural Resources >> Analyst Interviews >> March 5, 1999

Outlook For Energy : Richard M. Manley – Donaldson, Lufkin & Jenrette

JOHN D.HERVEY is a Vice President at Donaldson, Lufkin & Jenrette in London where he follows the major integrated oil sector. Previously, he was associated with Proctor and Gamble. Mr. Hervey is a graduate of Yale University and is an active member and former officer of the National Association of Petroleum Investment Analysts. He is also a past president of the Oil Analysts' Group of New York and a member of the International Association of Energy Economics and the American Petroleum Institute. From 1993 to 1997, Mr. Hervey chaired the International Oil Corporate Information Committee for the AIMR. RICHARD M. MANLEY is a Vice President at Donaldson, Lufkin & Jenrette in Europe where he covers the European Integrated Oil Sector. Previously, he was associated with Paribas. Mr. Manley is a graduate of I.C.A.D.E. Madrid. Profile
TWST: Let's start with the macro issues that should be factored into the

outlook for energy stocks in 1999. First of all, what has been

responsible for the low oil price over the past 12-18 months?