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: SliderOnTheBlack who wrote (63111)	3/28/2000 9:08:00 AM
From: BigBull	Read Replies (1) of 95453

Slider: The floor - has been set. I think at this point it is safe to assume that Kuwait and SA are on the same page. These quotes clearly indicate the prices these guys want and that the Clinton administration can live with. Note: it is nowhere near the $18 to $20 range cited by some. I believe SA and Kuwait will defend these prices with great vigor. ------------------------------------------------------------ arabia.com "We`re looking for $23-$25 a barrel for (UK) Brent," said Kuwaiti Oil Minister Sheikh Saud al-Sabah. The benchmark grade was traded 23 cents down at $25.70 on Monday, after reaching $32 three weeks ago. US light crude in New York was at $27.82 a barrel. Worried about high gasoline prices and inflationary pressures, the United States sees room for OPEC eventually to open up the taps by three million barrels daily to replenish depleted inventories. But Washington is understood to be content with the step-by-step approach signalled by OPEC which could put more oil on the market later in the summer if prices do not cool quickly. To that end, the cartel also seems likely to agree to meet again in June to see whether additional volumes are needed. ------------------------------------------------------------ These are serious Big Dog Lagniape numbers. Enjoy the ride.

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