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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Tomas who wrote (63601)3/31/2000 6:11:00 PM
From: Tomas  Read Replies (1) of 95453
 
OPEC's new target prices: $22-28 for the OPEC basket = $24-30 for WTI.

Venezuelan Oil Minister Ali Rodriguez, who is the new president of OPEC, said Friday that the cartel plans to maintain a price range of $22 a barrel to $28 a barrel for the OPEC basket of crudes.

Rodriguez said that if the basket price moves outside the target range for 20 consecutive days, OPEC will increase or decrease production by 500,000 barrels a day until the price moves back within the stipulated band.
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