YEEHAW CANDIDATES Message Board

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Strategies & Market Trends : YEEHAW CANDIDATES

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To: PuddleGlum who wrote (7892)	5/16/2005 9:42:33 AM
From: Galirayo	of 23958

PG ... $40.00 a Barrel ... hmmmmm. I woke up about 4am and caught this blip. Sorry 4 the Duplicate I hit Prvt Reply by accident. I was trying to post that here. "We will continue to focus on the market and will continue to supply the market," said Sheikh Ahmad, who is also Kuwaiti oil minister. But he added OPEC was unlikely to raise its formal output limit to match the actual supply. He said that $40 a barrel was an acceptable price for the cartel's basket of crude oils, nearly $6 below its current level. Middle East Gulf oil producers have been raising output since March to build up stocks ahead of the fourth quarter, when demand for OPEC oil is expected to rise to 30.5 million bpd. A number of OPEC members have discounted any possible cuts to supply despite the current softer market. news.yahoo.com

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