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

To: Justa Werkenstiff who wrote (14549)	6/19/2000 6:13:00 AM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 15132

OPEC President Doesn't Perceive Global Crude Oil Shortage Vienna, June 19 (Bloomberg) -- OPEC President Ali Rodriguez said the group this week could take measures to stabilize oil prices although he added that he doesn't perceive a scarcity of the commodity on world markets. ``We don't see a supply problem,'' Rodriguez said following a meeting with OPEC Secretary-General Rilwanu Lukman. The Organization of Petroleum Exporting Countries, which pumps 40 percent of the world's oil, meets Wednesday in Vienna to consider increasing output, now about 28 million barrels a day. The U.S., the world's biggest energy consumer, has warned high oil prices may hurt economic growth. Rodriguez, the oil minister from Venezuela, said the group may not decide to increase output by 500,000 barrels a day. OPEC failed to carry out an automatic boost of 500,000 barrels a day boost when the 20-day average of an oil index it monitors rose above $28 a barrel this month. Jun/19/2000 5:58 ET