Resurgent Oil Demand, OPEC Cohesion Set Stage For Optimistic Outlook For Oil Industry At The Turn Of The Century

There is guarded optimism that continued global economic expansion over the next 3 years will boost overall demand for energy, notably for oil and natural gas.This makes the outlook promising for oil and gas companies that have adopted a strategy based on continued market growth rather than rising prices.Expectations are for continued improvement in the economic situation in the developing countries and slow but steady growth in the industrialized nations. The chaotic political situation in the former Soviet Union makes projections of future economic activity difficult. But there is a good probability that the situation in the FSU will at least stabilize and post modest gains in economic ...

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