Price of oil surpasses $54 a barrel; supplies a concernInternational agency raises demand forecast for ’04, lowers 2005 forecast slightly; global production capacity only about 1% above daily demand Brad Foss Associated Press Business Writer
Oil futures prices surpassed $54 a barrel Oct. 12 on supply concerns in Nigeria and the Gulf of Mexico, where hurricane damage to pipelines and production platforms could curb output for months.
Meantime, the International Energy Agency, a Paris-based energy watchdog for oil-consuming countries, on....
[additional news subjects in this story]
2005 demand forecast down slightly Billions more in E&P investment possible
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