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: Erwin who wrote (15917)	3/22/1998 6:15:00 PM
From: john david martin	Read Replies (1) of 95453

As one that owns both an airline stock and a oil service stock I would caution any one from assuming that one is dead and the other is on it's way back-up. I believe that a higher stock appreciation could still come from airline stocks over oil service stocks in the next few months, although in the longer term oil services's are today's best value. With the recent history of failed OPEC attempts to restrict oil and all the oil experts recent cautious comments whether this is the bottom of oil prices can one now really believe this is going to be a SUSTAINED takeoff for this sector . With Japan on the verge of sinking to a depression economy taking Asia with it, I believe most economists are still worried with deflation and falling commodity prices. To suddenly believe that OPEC can turn around oil prices long term in the mist of current world economy may be a bit premature.I think that what these announcements indicate is that we may have reached a bottom to oil prices. Can someone tell me the last time that OPEC was able to make a quota reduction stick and do you really believe that the non-OPEC countries will go along.

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