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Post# of 704047
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Ian56

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Ian56

Re: otraque post# 445857

Thursday, 12/22/2005 3:50:18 PM

Thursday, December 22, 2005 3:50:18 PM

Post# of 704047
I reckon crude will go to nearer $40 but that will take a while into next year.

There never has been a shortage of oil. There is a shortage of refinery capacity. Crude production is set to rise in 2006 & 2007 with new fields and supply routes outweighing the decline in old fields.

Goldman exited their large long position near the highs with their call for $105 oil.

The hot money is now playing something else.

Regards,
Ian


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