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: The Ox who wrote (75027)	9/29/2000 1:21:20 AM
From: The Ox	Read Replies (1) of 95453

Mexico City (Platt's)--28Sep2000 Oil prices are unlikely to continue to rise and should stabilize at around $30/bbl as OPEC makes good on its pledge to put an additional 800,000 b/d on the market from Oct 1, Energy Secretary Luis Tellez said Thursday. Tellez told the Mexican Senate that it was vital to maintain cooperation with other producers. He also noted that inventories are not yet back to the level of five or 10 years ago, and that cooperation between OPEC and non-OPEC producers must be maintained for the foreseable future. Tellez was speaking at a Senate hearing on the recent sixth and last annual State of the Nation report by President Ernesto Zedillo.

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