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: marc chatman who wrote (15554)	3/19/1998 6:43:00 PM
From: Driller Man	Read Replies (1) of 95453

Radio Europe reports Oil production reduction is the topic of the Opec meeting. Saudi sources are now revealing that they, along with 4 major producers, have already come to an agreement. One source says the meeting is just a formality, to procure a final written understanding. Insiders calculate that the reduction shall equate to a price of over $18., based on the current demand levels vs planned reduction. Oil futures are expected to rally on friday based on further sources confirming the reduction, via the wires, before the weekend.

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