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May 31, 2000

Sector survey: Oil

A look at an industry riding a turnaround

The oil industry received a shot in the arm in March when a successful Opec meeting established higher production rates keeping oil prices at the comfortable level of $20-plus per barrel for the near future. And while the connection between gas pump prices and oil stocks has been tenuous recently, the news of the meeting did enough to energize the prospects of oil stocks: corporate IR departments in this industry had their phones ringing off the hook. 'Investor perception changed in the last

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