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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (6646)	7/9/1999 10:46:00 AM
From: Wally Mastroly	Read Replies (1) \| Respond to of 15132

Can oil prices put pressure on inflation & costs for business? Agency sees end to oil glut: PARIS - The International Energy Agency says accelerating Asian oil consumption and a robust U.S. economy will soon end a worldwide oil supply glut. The IEA says global demand is improving just as a number of major oil producing nations are curtailing supplies, meaning that an abundance of oil that sent crude prices to 12-year lows in December will be gone before the year ends. Oil prices are up some 70% this year. 10 members of OPEC and four other countries vowed to cut oil supplies by more than 5 million barrels a day in a series of agreements beginning last year in a bid to ease the glut. - Perhaps OPEC members can hold the line on production limits this time....