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Gold/Mining/Energy : Oil & Gas Price Economics
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To: Ed Ajootian who started this subject11/14/2000 10:11:38 PM
From: rajaggs  Read Replies (1) of 350
 
Crude prices holding firm above $30/bbl despite all of the promised production hikes from OPEC.
Are they real or perceived.??

NG prices on the increase last week and today at NYMEX.
Dec00, Jan and Feb01 NG futures prices all closed UP, at $6.02, 6.00 and 5.62 respectively.
Maybe the predictors of 'all's well' for political purposes would do us all a service, if they stand back from the blackboard and look at the global scene of smaller oil discoveries, levelling production and accelerating consumption, especially in emerging lands like China.

Now the the economic boom has really caught on in China, it'll be a brave person that attempts to cut back on their access to or use of OPEC oil.
It may be $40 oil this winter but just as likely it'll be $50 oil next year or the year after that.

just my thoughts,
'jaggs
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