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Strategies & Market Trends : India Coffee House
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To: Rational who wrote (9165)10/29/1999 8:35:00 PM
From: Mohan Marette  Read Replies (2) of 12475
 
Rational, you worry too much. Recently I read a report by one Mr.Davies, Chief Economist, of British Petroleum, his feeling is that oil should stabilize in the low 20s this year. Besides we got them IT companies and guys in India whose foreign exchange earnings (increasing steadily-$5 bil for the current fiscal and growing at a healthy clip of 30-35% annually) should compensate for any unexpected price fluctuations-other industries-both domestic and otherwise- are not sitting idly either. Another point is that India's domestic oil production is increasing steadily though marginally it may be.
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