UFAB - oil drilling deck fabrication Message Board

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Gold/Mining/Energy : UFAB - oil drilling deck fabrication

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To: andrew r harwood who wrote (272)	5/19/1998 8:16:00 PM
From: andrew r harwood	Read Replies (1) of 337

well it was front page in the daily advertiser business section about unifabs earnings etc, daily berard was interviewed,they lost 14 employees ,according to berard they have lots of business and a 30million backlog in orders .still the price seems to fall ,will buy some more if it gets close to the 14-15$level .everyone is nervous about the price of oil which tanked today down to 12-13$a barrel .the oil producers will have to realize that if they produce more oil than the market needs all that happens is the price goes down and they dont get any more money despite producing at higher levelsand depleting their reserves quicker.this inescapable and simple logic seems to eluded the opec and none opec producers.you would think that they would agree to limit production to maintain the price in the 18-20$ level .but i guess thats beyond thier ability to comprehend .arh

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