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Gold/Mining/Energy : Arconenergy, Inc. (Long Term Investors and Fundamentals)
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To: Ed Hoftell who wrote (431)3/25/1998 9:49:00 AM
From: jeffrey rainey  Read Replies (1) of 1757
 
When the news comes this will sure give us a boost,next quarter.
Source: OPEC



ÿ ÿ ÿ ÿBut news of the emergency meeting, announced by OPEC secretary-general Rilwanu Lukman at the group's headquarters in Vienna, helped futures markets to reverse early losses.
ÿ ÿ ÿ ÿBrent crude oil to be delivered in May was up by 3 cents at $14.56 per barrel, after falling 38 cents a barrel at the opening on London's International Petroleum Exchange.


ÿ ÿ ÿ ÿPrices had fallen more than 50 cents a barrel Tuesday, giving up much of the gains oil had shown Monday as producer after producer announced planned production cuts.
ÿ ÿ ÿ ÿOil prices plunged in the winter, after OPEC's ill-judged decision in November to raise stated output by 10 percent, just as world demand for crude was slowing because of the Asian economic crisis and the mild weather in key North American and European heating oil markets.
ÿ ÿ ÿ ÿAn OPEC committee that monitors the group's compliance with its production agreements had been scheduled already to meet Monday in Vienna. The Organization of the Petroleum Exporting Countries apparently decided the time for a full meeting was right, after the deals announced earlier in the week.
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ÿ ÿ ÿ ÿc 1998 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Regards

Jeffÿ ÿ ÿ ÿ
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