Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Mike McFarland who wrote (14169)	2/19/1998 12:38:00 AM
From: Death Sphincter	Read Replies (1) of 94695

OPEC raised production levels back in October. they had no crystal ball then and couldn't predict warmer weather patterns(leading to lessened demand) or potential Asia econ slowdown(potential lessened demand). OPEC is very closed mouthed, but some talk of Saudi's supporting "informal" suggestions of production pullback is surfacing . I believe the price spike today was a result of Saudi production talk. Big OPEC members don't like the current price but are TRYING to keep supply/demand on even keel. they want to operate like a bank with known dependable revenues....so they can plow that money into something to "retire" on when oil reserves begin to deplete...like buying up millions of acres of farm land in the USA.....I expect an announcement soon about production allotments......wouldn't it be interesting if they announced a production curtailment and then the next day Clinton began with military action against Iraq? worked in oil exploration for years....most companies run economics on drilling projects with "worst case" price scenario...in todays environment some use $10-$12 per barrel....if it still flies at those prices they go ahead with plans. many beat-up oil stocks right now, look very attractive for buy and hold type investor. and with a price spike the "hold period" might not be more the a few months for some truly big runups. IMHO and nothing more. Carl ps.. if you catch a "blurb" on emergency OPEC meeting.etc....please post..we get all the up-to-the-minute on Jughead and Veronica in Washington,D.C.....but it seems like oil news comes out the next day

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