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To: RealMuLan who wrote (45424)	5/25/1999 3:52:00 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

Last week API numbers were much worse than DOE. This week we will likely find out which was out of whack as it should correct the other way. My bets are that the API numbers were off and will correct today.

To: RealMuLan who wrote (45424)	5/25/1999 4:28:00 PM
From: RealMuLan	Read Replies (2) \| Respond to of 95453

Maybe this is why the sudden jump in crude. "Venezuela Warns of Oil Disruptions Over U.S. Trade Complaint" quote.bloomberg.com Energy News Tue, 25 May 1999, 4:23pm EDT Venezuela Warns of Oil Disruptions Over U.S. Trade Complaint Caracas, May 25 (Bloomberg) -- Venezuela warned that oil supplies to the U.S. could be disrupted if a trade complaint being filed with the U.S. Commerce Department is taken seriously. The complaint is being filed by the Independent Petroleum Association of America, and other oil groups against Venezuela, Iraq, Mexico, and Kuwait for allegedly dumping crude on the U.S. market. The complaint will ask the Commerce Department to investigate whether foreign oil producers sought to decrease prices and unfairly drive down domestic production. ''If this proceeds before the Commerce Department, this could create disruptions'' in deliveries, said Energy and Mines Minister Ali Rodriguez during congressional testimony. Oil is Venezuela's chief export, and the country is one of the largest oil exporters to the U.S., which receives more than half of Venezuela's 2.72 million barrels a day output. The IPAA's members have joined with other oil groups to press a trade complaint against Venezuela and others for dumping crude on the U.S. market to drive out domestic production. Oil producers argue that 50,000 oil workers have lost their jobs because of low oil prices in the past year as U.S. production fell 7.5 percent in the past year. Recent price increases won't hurt the dumping complaint because it applies only to prices for a year that began March 31, 1998.