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Gold/Mining/Energy : American International Petroleum Corp
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To: DRRISK who wrote (7800)3/18/1998 7:48:00 AM
From: qdog   of 11888
 
It might be Clinton smearing oil...oh never mind.

Seriously, it's closer to a bottom, but commodity traders are a very strange lot.
They have to see a tangible draw down of inventory and cutbacks in production, niether, which today, is apparent. Compound this by the fact that Iraq is allowed to raise x amount of dollars over the next 6 month's. At today and near term future prices, that is alot of oil on a daily basis. The thing is that OPEC has to take into account for Iraq in it's quota's, which it isn't doing. The near 1 mil increase from non-OPEC in daily production increase doesn't help matters.

Yesterday the Houston rag used an ugly phrase, reassessments of E&P expenditures for some companies.
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