The Thread Formerly Known as No Rest For The Wicked Message Board

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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: stan s. who wrote (52072)	7/1/1999 9:33:00 AM
From: Big Dog	Read Replies (2) of 90042

Thought I'd drop in from the Strictly Drilling thread and offer my two cents on the oil service sector. The overwhelming driving force behind higher prices in the sector is the motto of the Offshore Drilling Bits newsletter: It's The Price Of Oil Stupid! Anyone notice that oil hit a 19 month high yesterday and is knocking on the door of $20 a barrel - may hit it today. Higher oil prices will "force" oil companies to open the purse strings and start spending money with service companies. The higher the price, the more they spend. Anything above $17-18 is healthy for the sector. OPEC is behaving this time. Expect sustained oil prices. Y2K, will there be any "panic" buying sending oil even higher? Who knows? Even without Y2K, the next months look good for the oil patch. big atoffshore.com

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