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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: articwarrior who wrote (56952)12/15/1999 11:21:00 AM
From: Gary Burton  Read Replies (2) of 95453
 
DLJ this am--"We expect crude to track in a 19-22 band for the next several qtrs and look for 19.50 WTI in 2000 as we expect OPEC quotas to ease early next year and Iraq to increase production"--DLJ also notes a 'surge' in tanker loadings heading to the US this past week (to arrive late Jan-early Feb)and implies that some OPEC members are already lifting production. "this is the first evidence of any real crack in the facade that OPEC has maintained production throughout 1999....the surge in tanker loadings came from Ven, WA and Middle East and did not yet include Iraq according to DLJ
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