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To: Snewts who wrote (55038)	11/19/1999 7:42:00 AM
From: oilbabe	Respond to of 95453

OPEC Heads-of-State Summit in Venezuela Delayed to September, Platt's Says London, Nov. 19 (Bloomberg) -- An OPEC heads-of-state summit scheduled for March could be switched to September following a recommendation by a group of advisers and senior officials that met in Vienna earlier this month, Standard & Poor's Platt's said, citing an unidentified person who attended the Vienna meeting. The summit will be the second such meeting in the history of the Organization of Petroleum Exporting Countries and, if convened in September, would coincide with the 11-member group's 40th anniversary. While the person said the switch has already been decided upon, OPEC officials in Vienna said there had been no official announcement on the matter, Platt's reported. Crude oil prices have more than doubled in London this year after OPEC and four other nations agreed to cut world output by about 7 percent for a year starting April 1 in order to wipe out an oil surplus. (Standard & Poor's Platt's 11/19)

To: Snewts who wrote (55038)	11/19/1999 7:44:00 AM
From: oilbabe	Read Replies (1) \| Respond to of 95453

Crude Oil Rises as Cold Weather Boosts Demand for Heating Fuels London, Nov. 19 (Bloomberg) -- Crude oil rose 2 percent, approaching a nine-year high, as forecasts for a cold snap in Europe raised expectations for higher use of heating fuels. ``Cold weather looks to be holding up the crude market for now,' said Kevin Blemkin, a broker with Cannon Bridge Corp. Ltd. Crude oil for January settlement rose as much as 49 cents to $24.85 a barrel on the International Petroleum Exchange in London. December gasoil, a group of fuels that includes heating oil, was 50 cents higher at $210.75 a ton after trading as low as $206, down $4.25 from yesterday's close. During the next five days, temperatures in northern Europe are expected to drop as much as 10 degrees Fahrenheit below normal, forecasters at Lexington, Massachusetts-based Weather Services Corp. said. Crude oil for December delivery on the New York Mercantile Exchange, which expires today, was 40 cents higher at $26.20 in electronic trading. December heating oil jumped as much as 2.8 percent, or 1.89 cents, to 68.4 cents a gallon on the Nymex. Forecasts for cold weather are more than offsetting Amerada Hess Corp. plans to restart its St. Croix refinery in the U.S. Virgin Islands, the second-biggest processor in the Western Hemisphere. The factory sustained only minor damage from Hurricane Lenny and will resume full operations this weekend. Concern about damage to the 525,000 barrel-a-day St. Croix refinery helped oil surge to its highest level since January 1991 earlier this week. Oil prices reached a 12-year low in December though have since doubled after the Organization of Petroleum Exporting Countries, plus four other nations, slashed world supplies by about 7 percent in April from February 1998 levels. That's forcing refiners to use up stored fuel.