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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: The Perfect Hedge who wrote (15214)3/17/1998 9:42:00 PM
From: Lucretius  Read Replies (4) of 95453
 
DOW JONES:

Luis Giusti,president of Venezuela's state-owned oil monopoly Petroleos de Venezuela SA, said to reporters after a speech in Brussels that Venezuela would be willing to participate in some initiatives being discussed that would remove from the market between 1.5 and 2.5 million barrels a day of oil from both OPEC and non-OPEC producers.

"These comments by Giusti suggest that oil prices may be approaching Venezuel's pain threshold.This may be the beginning to some sort of action to cut production," said Tom Bentz, an energy analyst with Cresvale International.
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