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 (60121)	2/11/2000 8:38:00 AM
From: BigBull	Read Replies (1) of 95453

George, OPEC doesn't want to kill the Goose that... OK, so we've seen a little bit of public horse trading between Richardson and the Saudi's have we not? These two parties are really the principles. Saudi brings OPEC discipline and low stocks to the table. Richardson brings consumption. Richardson says $27 is getting too high. Richardson loses, he mentioned the number first. Saudi's come back with $25 - $27. Richardson puts a wee bit more public pressure on via screaming politicians and threats of recession, etc. and so forth. To mollify these parties Richardson say they need $23 - $26, which will appear to be a blessing with crude over $30. THE DEAL is split the difference and everybody goes home happy $24 - $26. Schumer shuts up and goes back to bashing Republicans - namely Rudi Giuliani. Hilary needs him badly, Rudi will eat her alive without him, trust me. Due to the lag effects of getting production ramped up and shipped crude will probably break over $30 for a brief period before settling back, as OPEC increases production slightly. quote.bloomberg.com Everyone breaths a huge sigh of relief - especially central bankers and bond traders. OPEC miscalculates the demand driven by lower rates and demographics and crude goes to $40 sometime in 2001. Fairy tales can come true, it can happen to you. <vbg>

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