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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Teddy who wrote (17053)3/29/1998 9:04:00 AM
From: HH  Read Replies (1) of 95453
 
This just in from Noesis:
"There are reports out that OPEC is meeting on Monday to
discuss reducing crude oil production. Expect cooperation.
Most producing countries are probably in a position
of being forced to cut back production anyway because there
simply is no place to put the crude oil!"

PS
A friend of mine is a smallish producer , kind of a bottom feeder,
and I asked him recently how his deals were working. He gave me
the analogy that the big producers (SA,Ven,Mex, et al) are behaving
like a school of fish that just saw a huge predator swim by.
As for his business, he just laughed stoically and said that he
was just chum in the water.

ugh

HH
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