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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: quehubo who wrote (8695)4/5/2002 4:14:57 PM
From: Terry D  Read Replies (1) of 206133
 
From RealMoney.com : Christopher Edmonds

These days, most energy investors are watching for possible crude-oil supply disruptions in the Middle East, so the thought of OPEC's next move has drawn little attention.

But with a meeting of the Organization of Petroleum Exporting Countries scheduled for June, an interesting irony has developed: The cartel may very well raise production, instead of imposing an embargo that so many investors seem to fear.

"That will certainly be on the table," says Dan Pickering, director of research at Simmons & Co., a Houston energy investment firm, and a member of the TSC Energy Roundtable. "OPEC has a huge inventory of crude they want people to consume, and they have much more risk of hurting demand with higher prices."

Indeed, if prices stay above OPEC's $25 price target between now and the cartel's June confab, chances of a production boost are good.
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