Mobil sees light at the end of the Asian tunnel
biz.yahoo.com
Wednesday October 21, 12:42 pm Eastern Time
Excerpt:
FAIRFAX, Va., Oct 21 (Reuters) - Mobil Corp.'s (NYSE:MOB - news) refining and marketing officials are starting to see light at the end of the Asian economic tunnel, the company said in a statement released on Wednesday.
It said the Asian economic environment was discussed on Tuesday by Stephen Pryor, president, international marketing & refining, at a meeting with analysts in New York City.
''We're starting to see light at the end of the tunnel,'' Pryor said. ''Some countries, for example, South Korea, Thailand and now Japan, are taking the necessary steps to restore confidence and stimulate renewed growth.''
''The turning point for Asian oil (product) demand is likely to occur in late 1999 or 2000, putting the region back on the path of sustained growth at a rate which exceeds that of most of the world,'' Pryor said.
We never saw anything like this in September.
Doug, I had scanned the thread headlines before posting this but just now read your earlier post of the same item - anyway, it's good news worth repeating.
Best of luck,
Steve
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