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 (63172)	3/28/2000 5:17:00 PM
From: ItsAllCyclical	Read Replies (1) of 95453

OPEC meeting ends without consensus (Iran abstains) 5:08 p ET The OPEC conference ended Tuesday without an agreement among all the members of the oil cartel. Sources say Iran has abstained from an agreement between the other nine oil producing countries. Sources say there is an agreement to increase oil production by 1.7 million barrels a day, by the remaining members of OPEC. Source was CNNfN. Since Iran is near production capacity anyway this shouldn't be a big deal. I was hoping for 1.5 increase or less, but oh well. A downturn, if any, should be short. The real question is whether or not this includes existing production over the quotas. I have not seen this news yet.

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