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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (49919)	4/11/2002 4:08:00 PM
From: Sully-	Read Replies (3) \| Respond to of 65232

16:03 ET Turmoil in Venezuela : Oil prices could hiccup depending on how the situation in Venezuela, the world's 4th largest oil exporter and a major OPEC member, plays out. Demonstrators are calling for President Chavez's resignation, and the country's largest labor and business confederations have announced that they will continue a 48-hour general strike indefinitely (which was called in support of workers and managers of the state-owned oil co PDVSA). The army is calling for calm after the chief of the military reportedly denied locking up Chavez at a military base. According to CNN.com, production has fallen by nearly 450k barrels a day because of the strikes; Venezuela usually produces 2.5 mln barrels daily, and exports more than 1 mln barrels per day to the US.