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: Lois R who wrote (15842)	3/22/1998 10:19:00 AM
From: Teddy	Read Replies (1) of 95453

Wow, that sounds like great news. I haven't seen it anywhere else yet, but the Reuters article makes it sound like it is a done deal: Producers inside and outside the OPEC are to cut between 1.6 million and 2 million bpd of oil from world markets to restore prices, a joint statement issued by Saudi, Ven, and Mex on the official Saudi Press Agency said on Sunday. The three Ministers decided to undertake an effort together with the rest of OPEC members as well as non OPEC producers to withdraw from the market an amount of 1.6 - 2 million bpd" the joint statement said... My guess is we are going up from here: short covering, value investors, people that were waiting for oil to stabilize, MoMo money... Oh, one more thing to help us out: now that it is Spring, Winter has finally arrived in New England: it is cold and snowing. Here's a couple of oil/gas futures price links a found today: cgi.ino.com cnnfn.com And here's a really long term idea, if anyone is interested: alienacres.com <G>

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