61.   World oil inventories have been declining, but in the past year demand has been rising sharply.

62.   Part of the problem is high oil inventory in Europe and the United States lessening the demand for Mexican oil, said Garcia.

63.   Experts say the high prices are the result of a sudden cold snap, low oil inventories and sustained production cuts by the Organization of Petroleum Exporting Countries.

64.   Greenspan said oil inventories have fallen to exceptionally low levels, leaving the country vulnerable in coming months to a big price spike if supplies suddenly drop further.

65.   He noted that global oil inventories are high and that the U.S. Strategic Petroleum Reserve is well-stocked.

66.   However, analysts suggested that OPEC is not likely to pump enough barrels for importers to meet current demand while also replenishing oil inventories.

67.   It predicted continuing volatility in oil markets because of moves by OPEC to cut production to keep prices high, and the consequent reduction in oil inventories.

68.   Mild autumn weather and a spurt in petroleum output from non-OPEC sources have helped replenish global oil inventories and ease crude prices, a widely read survey said Monday.

69.   Oil inventories have fallen to exceptionally low levels, he said, leaving the country vulnerable to a big price spike if supplies suddenly drop further.

70.   Oil inventories have risen slightly in key importing nations, and prices for crude and gasoline have eased in recent weeks, the report found.