Green Oasis Environmental, Inc. (GRNO) Message Board

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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO)

GRNO 0.00

Dec 4 4:00 PM EST

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To: Charles A. King who wrote (10242)	12/1/1998 12:30:00 PM
From: Charles A. King	of 13091

In two months, the price of crude oil has dropped an amazing $4.40 a barrel. oilworld.com OPEC met recently and adjourned without deciding to make any further cuts. Once again, members who know pumping must be cut further decided not to agree, reasoning that cheaters like Venezuela must adhere to their own agreed quotas before any further agreements can be made. Iraq has been able to gradually increase production a bit, while other countries like Nigeria are hopelessly corrupt and have traditionally cheated on their quotas. Iran disputes the quota placed on it. Some OPEC members complain that Saudi Arabia grabbed market share during the Gulf War and never gave it back. At the time, we oil consumers were very glad Saudi Arabia was able to pump more oil. Noesis says the price softness is caused by the refiners reducing their inventories ahead of the end of the year. It will be interesting to see what happens after the start of the new year as the northern hemisphere has a chance to let winter burn off some oil inventory. So far, the weather here has been warmer than usual. Charles

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