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Gold/Mining/Energy : Oil & Gas Price Economics
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To: rajaggs who wrote (325)11/19/2000 5:41:53 PM
From: Ed Ajootian  Read Replies (1) of 350
 
Should we believe Richardson or Naimi (Saudi main oil man)?

Here are some one-liners from futuresource.com, that were posted earlier today:

06:52:48 Naimi says Saudi can add 1.8 mln bpd output within 90 days
06:50:13 Saudi Naimi renews commitment to up output if need arises
06:50:12 Naimi says Saudi not under pressure to increase output
06:48:37 Naimi: Saudi sees supply currently equal or exceeding demand
06:44:02 Naimi: Main producer/consumer dispute oil price, environment
06:38:05 Naimi: Gap between consumer, producer price targets not large
06:37:16 Naimi repeats Saudis ready to take any action to stabilize mkt
06:31:00 Naimi: Forum sees need for oil price stability, transparency
06:11:02 Richardson: Persistent high oil prices may threaten US economy

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Naimi's statements seem pretty strongly worded. Guess we'll see within coupla months or so which one is right. The key to me will be how the API numbers start to look once winter gets in full swing.
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