Nabors Industries(NBR) Message Board

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Gold/Mining/Energy : Nabors Industries(NBR)

NBR 51.76

+0.1%

3:59 PM EST

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To: PashaBear who wrote (88)	5/14/1998 1:27:00 PM
From: Jim Lou	Read Replies (2) of 174

The only thing is the oil price... The logic here is: weaker economy in Asia --> less demand for oil --> significant oil price hike less likely --> oil stocks remain weak. The Indonesian turmoil is a very bad signal for Asian economy. Plus, India's nuke tests invited sanctions, that country getting into deep financial trouble already. China? Currency devaluation is pressing, although the government says no. HengSeng index is testing new lows. I am not very clear on where oil stocks will go, although we all agree that oil price is way too low and should definitely bounce back a bit. My feeling is, the upgrade is early for the sector. Any thoughts?

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