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 (15992)	3/22/1998 11:21:00 PM
From: Douglas V. Fant	Read Replies (1) of 95453

Marc, IMO as in all production quota arrangements, there will be a good first month on the euphoria of the agreement. then about a month out, when tanker/pipeline shipments should be adjusted and reflecting the agreement worldwide, the question will shift to whether the various countries are actually sticking with their commitments... But the amounts committed- 600,000 bbls firm from Mexico, Saudi Arabia, and Venezuela as of now propping up a market that utilizes 75mm bbls/day should tell you something- and that is that markets are still reasonably tight when a 1.2% reduction in production can send a price upward.... The point being is that world oil markets are strong and IMO will be dynamic for several years moving forward.... The "rumble" has just begun. So when you all saddle up on this pony, be ready for a long, long fun ride... Also last week on this Thread, I pointed out that someone bought 1000 BJS April 35 call options @ 1/2. Don't know who it is, but he/she is up about 400%- in one week.... Sincerely, Doug F. PS. BTW down South you would never hear uttered the phrase "scum sucking Yankee"! It's considered inappropriate to curse like a mariner down South. About the worst you will ever hear is a mild off-color catch phrase like "chowder-eatin' Yankee", and even that is usually said tongue-in-cheek....

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