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: BigBull who wrote (60028)	2/9/2000 4:13:00 PM
From: upanddown	Read Replies (1) of 95453

The upward catalyst in the oil patch stocks will occur when players understand that a trickle of crude will be forthcoming from OPEC - NOT a flood. Total agreement there, El Toro. One thing that is certain is there will not be a repeat of the 10% Fall '97 Jakarta idiocy. I see a very slow opening of the taps....maybe 1-2% and not necessarily in April....they might delay a month or two. I don't think we will see any public squabbling over quotas....they finally understand the power of solidarity. I also think the meeting will be a formality with its results known long in advance thru leaks. Its like Big Al and the FOMC meetings. The markets will anticipate and make its moves long in advance. Futures markets were certainly saying today they don't anticipate much additional supply even if the equity markets didn't notice. John

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