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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: limtex who wrote (31343)	9/10/2000 10:38:47 AM
From: Bruce Brown	Read Replies (1) of 54805

Limtex wrote: UF - OIL price.....heading for $40. Market won't like this one bit. Not according to the OPEC meeting held here in Vienna this morning. I didn't drive by OPEC and honk my horn, but I thought about it.... I'll have to honk my horn on stage tonight in case any OPEC members are in the audience for La Boheme. siliconinvestor.com VIENNA (Reuters) - OPEC ministers on Sunday agreed to raise oil supply by 800,000 barrels daily in a bid to tame runaway crude prices and avert a consumer scare over fuel costs. The Organization of the Petroleum Exporting Countries lifted production by just over three percent to 26.2 million barrels a day for 10 members, excluding sanctions-bound Iraq. OPEC's output increase, the third this year, comes amid an international outcry over gasoline prices and concerns that high energy costs could trigger inflation and dent world economic growth. The pact is effective from October 1. Ministers said the extra oil, slightly more than anticipated by dealers, should be enough to quell anxiety among importing nations and bring prices back down into the cartel's preferred range of $22-$28 a barrel. BB

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