Growth has not been the synonym for optimism in the forecasts ofthe biggest players in the Romanian oil industry for two years now;it has turned into hope for stagnation instead. While fuel demandhas been on a constant decline since 2008, for 2011 oil companiesstill believe in zero growth.
According to market specialists, a return to pre-crisis levelswill be visible as late as after 2012, with cost cuts as the basicstrategy until then.
"I believe this year we'll have a market decline of 5-7%year-on-year and we hope for zero growth next year at best," saysDmitry Grigoryev, CFO of Rompetrol oil group, ranking second on themarket.
His estimates, at least about the trend of the fuel market, can beviewed as positive compared with those issued by the other players,who say oil and diesel oil demand is likely to drop by 10% thisyear against 2009.
While local authorities see next year's economic rebound ascertain, oil companies have learnt to be more cautious as regardstrust in official forecast, so that they see the market going backto the 2008 level as late as after 2012, at best.
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