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Strategies & Market Trends : games trader group

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To: John Paquet who wrote (338)	1/20/2000 9:33:00 AM
From: goldsnow	Read Replies (1) of 507

Oil demand will rise 2.4 percent this year, more than previously forecast and the biggest gain since 1997, because of accelerating economic growth in Asia and North America, the International Energy Agency said. Consumers will burn an average 77.3 million barrels a day worldwide this year, up from 75.5 million daily in 1999, the Paris- based agency said. The forecast is 220,000 barrels a day more than was expected a month ago. Crude oil prices, which doubled last year, are near $30 a barrel in New York as exporters signal they don't intend to boost output for months, even with rising demand. Inventories will dwindle if the Organization of Petroleum Exporting Countries sticks to its plan, threatening to spark inflation, analysts said quote.bloomberg.com

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