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Strategies & Market Trends : Waiting for the big Kahuna
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To: GROUND ZERO™ who wrote (63001)2/21/2003 1:03:26 AM
From: Gary105   of 94695
 
You are right about the Venezuela influence right now. If/when the Iraq flow is endangered that will also have a real impact. Assuming everything is resolved, we go back to a situation where OPEC dictates price - their target range is in the mid to upper $20s. Only a temporary imbalance (eg simultaneous global recession) can upset that. Long term OPEC should continue to have control of price as increased supplies from Russia's Caspian sea are offset by increased demand from developing giants such as China.
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