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

To: Crimson Ghost who wrote (32266)	11/30/1998 3:15:00 PM
From: ldo79	Respond to of 95453

Low oil prices. From oilonline: "Asian economic downturn slows growth in oil prices through 2007 November 25 - 29, 1998 World oil prices are expected to be affected well into the next decade by the recent economic crisis in East Asian countries, with prices for 2000 forecast to be as much as $5.50 per barrel lower than projects made just one year ago. Growth in world oil demand will slow in the near tern but will resume after 2000, according to the Energy Information Administration, which released its Annual Energy Outlook 1999. The cyclical impacts of the global slowdown in oil demand growth will keep prices from fully recovering to previously expected levels until 2007, the report said. The study also forecast that oil imports will continue to rise, with net oil imports providing 65 percent of U.S. consumption in 2020, up from 49 percent in 1997. Natural gas wellhead prices are projected to increase to an average rate of 0.8 percent a year through 2020, from $2.23 per Mcf in 1997 to $2.68 in 2020" Regards