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Mon, Aug 09, 2004 - Page 12 News List

Asia can't withstand rising oil prices for much longer

AFP , SINGAPORE

Julian Jessop, chief international economist of London-based research house Capital Economics, said he believed Yukos and Moscow were playing a game of "brinkmanship" and Russian authorities were unlikely to stop production.

But the ADB's Ali said oil prices should stay above US$40 a barrel until the end of this year because, apart from the Yukos factor, the problem of supply disruptions in oil-producers Iraq, Venezuela and Nigeria remained.

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