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: Tomas who wrote (75212)	10/1/2000 12:25:58 AM
From: ItsAllCyclical	Read Replies (1) of 95453

>> With prices hovering around the Dollars 24 a barrel level, one senior Opec official estimated that there was about Dollars 4 of "speculative froth" in the price. << OPEC didn't believe price rise. Majors still don't believe it. Nobody bothers to expand capacity until oil hits $30. All of this points to a longer than average cycle. There are plenty of others factors, but they've been discussed to death, but this OPEC news is somewhat new to me. Makes sense, but I hadn't seen any articles on it before.

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