Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Tulvio Durand who wrote (14302)	3/10/1998 11:53:00 AM
From: Czechsinthemail	of 95453

Tulvio, I really don't know the extent of futures market pre-selling. I noticed, however, last month when there were discussions about production cuts that Venezuela indicated they had already sold their March production. Theoretically, by pre-selling in the futures market, they could be making money on the declines in oil prices. If so, it would be likely that the drop would end fairly soon with short-covering and some kind of OPEC agreement that would drive prices up again. Baird

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