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: Crimson Ghost who wrote (48741)	8/2/1999 5:14:00 PM
From: JungleInvestor	Read Replies (1) of 95453

George, some of my posts a few months ago emphasized this very same point in forecasting $30 oil by end of the year. The two factors controlling the price of oil are: 1) supply/demand and 2) money supply. OPEC/capex cuts (supply) and renewed Asian growth (demand) are driving up the price of oil. Expect money supply growth (driven by end of '98 interest rate cuts) to kick-in within the next few months. The Fed, with reason, is closely watching the threat of inflation spurred by this money supply growth.

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