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: Gator II who wrote (23261)	6/2/1998 9:52:00 PM
From: 007	Read Replies (5) of 95453

>I have this nagging feeling that Saudi Arabia et. al, is perfectly willing to maintain this "blue light special" on crude until world-wide drilling programs at the level we saw last year, simply go away and they are assured they will stay away for a while.< Funny, I talked to an Iraqi geologist a couple of weeks ago who had the same view. He doesn't have any inside knowledge, but his opinion was that the Saudis would love to see oil in the single digits so that they are the only ones left standing. I told him that that didn't make sense to me because the increase in volume wouldn't make up for the lower prices, and once prices did rise again, e & p would just resume in the other countries. Anybody else think otherwise? OO7

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