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

To: isopatch who wrote (73671)	9/18/2000 11:04:36 AM
From: Tomas	Read Replies (1) \| Respond to of 95453

IMF Says Oil Prices Will Keep On Rising - The Guardian, September 18 The IMF's latest World Economic Outlook to be released this week expects oil prices to continue to rise in coming months due to the approaching winter, low reserves and strong growth in the global economy. The IMF raised its forecast for global growth from 4.2% to 4.7% in 2000. It predicts 4.2% growth in 2001, according to the report cited in the German press. US GDP is expected to show a record growth of 5.2% this year, falling back to 3.2% in 2001. Euro zone growth is expected to be 3.5 % in 2000 and 3.4 % in 2001, while Germany will see 2.9 % growth this year and 3.3 % in 2001. The report said crude oil and heating oil reserves had not been filled to the usual extent during the summer because of high prices. This would increase pressure on existing reserves during the winter. In the short term, extra requirements would rise to 5m barrels of crude a day. OPEC said it had only agreed to produce 3m extra barrels a day.