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: marc chatman who wrote (59603)	2/2/2000 3:35:00 PM
From: ChanceIs	Read Replies (4) of 95453

``The Venezuelans probably saw both the API and DOE figures and decided to put the brakes on' prices, said Nauman Barakat, vice president of global energy trading at ABN Amro Inc. in New York. Above from Bloomberg: quote.bloomberg.com Like I said earlier (and Slider has said for some time), the price pressure comes off about the Ides of March when the northern hemisphere winter ends. Until then OPEC must keep a low profile pricewise. Allowing a big price spike here will upset the apple cart. OPEC can keep Clinton/Gore/Richardson/Schumer at bay with chat. With the winter demand pressure off, OPEC can extend its cuts with impunity. Schumer can't whine about yuppies high SUV gasoline bills in July.

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