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Article: Institutional investing in oil stocks spurred by concerns over warfare.
- Article from:
- The Oil Daily
- Article date:
- September 22, 1986
- Author:
CopyrightCOPYRIGHT 1986 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Institutional Investing in Oil Stocks Spurred by Concerns Over Warfare
OIL COMPANY shares, recently depressed by the steepest fall in crude oil prices in history, are being bought by institutions on growing concerns that the war between Iran and Iraq is going to intensify, analysts said.
"We're concerned that the Iran/Iraw war is heating up," Frederick Leuffer, analyst with C.J. Lawrence Inc., said.
He said an intensification of the war and a possible victory by Iran would give that nation, which has been campaigning for cuts in production to boost oil prices, new dominance in OPEC.
An accord by OPEC members last month to cut output has ...