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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: tdl4138 who wrote (46169)6/9/1999 1:05:00 PM
From: Think4Yourself  Read Replies (2) of 95453
 
I LOVE it! If Venezuala shuts down that will dramatically reduce the time needed to eliminate "the glut" (assuming other members don't simply increase production).

"The oil workers' union, Fedepetrol, said that it would
strike unless Petroleos de Venezuela SA, the state oil company,
reversed a decision to freeze wages for 33,000 workers for the
first time in six years. The union said it would make an
announcement later today. A strike could affect oil deliveries to
the U.S., which currently receives about 60 percent of
Venezuela's production of 2.72 million barrels a day."
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