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: Crimson Ghost who wrote (46545)	6/17/1999 12:40:00 AM
From: RIK	Read Replies (2) of 95453

I am very confident that OPEC is extremely concerned about the fact that many companies have announced significant upward revisions to their budgets. How many wells that were shut-in have been put back into production with the oil price increase ? How many oil exploitation projects have come off the shelf ? I would venture a guess that many new large scale projects that were marginally / not economic at the lower prices are back on the drawing board pending some indication that the prices that OPEC are striving to attain are accomplished . Who better than Venezuela to interject some doubt as to OPEC accomplishing their goals ? They have a history of playing the roll of a loose cannon...... why not take advantage of this reputation. !!!!!

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