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: Czechsinthemail who wrote (20300)	4/24/1998 4:48:00 PM
From: upanddown	Read Replies (1) of 95453

I suspect we'll be getting positive news on the summer driving spree before we hear from OPEC -- though some action at their June meeting is a possibility. Baird: I tend to believe an OPEC (and non-OPEC) move on further production cuts may be more imminent (and more effective) than the effects of summer driving. These low prices are inflicting some real hurt on the undeveloped countries. Surely someone will realize that a 5% production cut would generate a 20% price increase that would create a larger pie with bigger slices for everyone. I keep telling myself that the oil honchos are not complete idiots though sometimes it is hard to tell. I'am expecting some action before the June meeting. John

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