Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: BigBull who wrote (48098)	7/16/1999 11:53:00 AM
From: Crimson Ghost	Read Replies (1) of 95453

S&P hikes oil price projections: Worldwide Oil Supply/Demand Balance Improving; Raising Price Estimates S&P equity analyst Norman Rosenberg notes that in S&P's quarterly review of world oil balances, he found that worldwide inventory surplus has begun to dwindle. OPEC's average daily production in June was 1.6 million barrels lower than in January, in keeping with pledged cuts. Rosenberg raised his 1999 oil price forecast to $17.00 a barrel, up from the $16.50 he estimated in April and his $15.75 forecast at the beginning of this year. He sees an $18.50 average in 2000. personalwealth.com

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