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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: William JH who wrote (60350)2/15/2000 9:23:00 PM
From: Meridian  Read Replies (1) of 95453
 
It'd be great if OPEC compliance was 60% with oil at $30.00 - less incremental supply to come onto the market. Only when compliance is 30-40% (when they've released another 1.0-1.5 mmb/d back on the market) and Oil prices are still in the $20-$24 range, that's when we see the big rally. There will be nothing much to worry about at that point. The perception of sustainability in the $20-$24 range IS the key, especially for the beaten down E&P group. And that's only possible when OPEC doesn't have much spare capacity left.
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