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 Perfect Hedge who wrote (3882)	11/26/1997 4:14:00 PM
From: Bob A Louie	Read Replies (1) of 95453

CNBC reported an analyst from Oppenheimer said that world oil demand would increase 2.4% in '98 even with slowdown in SE Asia. Another analyst said that OPEC quotas are like the 55 mph speed limit, no one pays attention anyway. The analyst also commented that the reason Saudis want to increase quotas is so they'll have room under their cap to bump up production in the event that demand rises. The Saudis have stated that they want to keep oil prices at $21 p/b and do not want to upset markets by turning on the tap. The Saudis are not stupid. They will not boost production with slowing demand resulting in lower oil prices. Bill

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