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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (16457)9/6/2000 10:32:43 PM
From: Ken98   of 436258
 
<<What Next for the Price of Oil?
6 September 2000

Summary

OPEC recently indicated that it would raise production at its Sep. 10 meeting in Vienna. To lower high oil prices, the production increase must be substantial. And unless OPEC, or Saudi Arabia alone, puts more than one million barrels of oil on the market, prices will stay high well into the winter.>>

Complete article at:

stratfor.com

See also:

<<OPEC Excess Capacity: The Emperor’s New Clothes?

[...] However, the fundamental question that many in the industry are not asking; does OPEC have sufficient excess productive capacity to meet our expected scenario of increasing global oil demand and sluggish non-OPEC
supply growth (see our companion research report “Crude Oil Price Forecast 2000 And 2001: Crude Stays Above $20/bbl”)?
Although OPEC excess capacity is impossible to measure accurately, we estimate the number is between 3 and 4 mmbopd, not the 7 to 8 mmbopd suggested by some analysts. Moreover, we estimate that this surplus volume is consolidated into the hands of a few key Middle Eastern
countries.>>

Complete report at:

simmonsco-intl.com

You think that Bubba will cut loose with 500,000 BPD out of the SPR until the Saudi juice starts flowing?
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