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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Knighty Tin who wrote (14054)	10/26/2004 2:47:26 PM
From: mishedlo	Read Replies (1) of 116555

World oil prices set for significant fall over next two years - IEA Tuesday, October 26, 2004 6:06:01 PM afxpress.com LONDON (AFX) - World oil prices will be driven down over the next two years due to there being enough crude to meet soaring demand, said Claude Mandil, executive director of the International Energy Agency. Supply and demand "fundamentals do not justify current oil prices", Mandil told reporters gathered at the Oil and Money conference in London. "Current prices are not sustainable and market fundamentals will drive them down in the next two years," he added. Mandil spoke as the IEA said global oil reserves would remain abundant for several decades despite a surge in energy demand

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