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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: ItsAllCyclical who wrote (60684)2/21/2000 6:44:00 PM
From: ItsAllCyclical  Read Replies (1) of 95453
 
OPEC price band, it should be obvious but if OPEC is looking for $20-25 long term they are not going to increase production anywhere close to where $20 oil will be seen during summer when supply usually increases. The second output increase would likely be next fall to coincide with increasing winter demand. As such we should not see the bottom end of the price band until next spring at the earliest barring massive OPEC cheating or dissention. Given Saudi Arabia's debt that looks unlikely.

Let's see what will an entire year of $22-26 oil do for crude heavy E&P's such as VPI, PXD and OEI...
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