Fed's Greenspan on energy

- Central Banking staff
- 06 Apr 2005

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In the speech 'Energy' given on 5 April Alan Greenspan of the Federal Reserve said market forces could lead to a big enough increase in crude oil inventories to cool the recent "frenzy" that has sent prices to record highs.

Greenspan said the high oil prices of recent months had slowed oil demand growth, although "only modestly," adding to a faster pace of oil inventory building.

He added that stockpiling could pick up further as producers seek to cash in on the higher prices future oil

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