1. The February meeting took place against a background of mounting disagreement between the OPEC members over the need to restrain production, so as to boost world petroleum prices. 2. Among these supply side factors are the wage increase and the series of increases in petroleum product prices resulting from the ongoing deregulation of the oil industry. 3. An inevitable rise in petroleum prices sometime next quarter may lead to a slowdown in demand for trucks, analysts said. 4. As for higher petroleum prices working their way into other products, Pfund of Rubbermaid insists his company will hold the line on its plastic cans and kitchenware. 5. But only petroleum prices exerted any lasting inflationary pressure. 6. But Wall Street expressed the worry that even as petroleum prices recede, labor costs will kick in and keep the inflation rate rising. 7. Estimates of gasoline stockpiles and demand are a key influence on petroleum prices at this time of year, before the peak summer driving season. 8. Environmental legislation and a global tug of war over petroleum prices contributed to the productivity slow-down. 9. Europe is a long way from facing a crisis, though political reaction to rising petroleum prices, exacerbated by the decline in the euro, was quite strident. 10. EXXON EARNINGS UP SLIGHTLY Exxon reported a slight improvement in earnings, helped by strong gains in refining that more than offset a big drop in crude petroleum prices. |