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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (68666)	6/23/2000 1:10:00 PM
From: Tomas	Respond to of 95453

OPEC to the rescue? That was the headline in a commentary yesterday by New York-based analytical firm High Frequency Economics, which argued that the impact of the recent rise in oil prices on overall inflation is at its worst now and will likely get better. High Frequency said the announcement by the Organization of Petroleum Exporting Countries this week that it will increase oil production should ultimately help to keep crude oil prices per barrel at around $30 (U.S.) or lower (even though it has lingered above that this week), with the added bonus down the road that steadier oil prices should help to curb gains in the rate of global inflation. "We are in the darkest part of the tunnel now, but light is beginning to appear at the end," the commentary said. "Once we get past the June round of CPI [consumer price index] reports everywhere in the world, it will be easier to become bullish about inflation and bonds." The Globe & Mail, June 23