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Gold/Mining/Energy : Oil and Gas Prices
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To: Tomas who wrote (52)7/9/1998 6:26:00 PM
From: Ming  Read Replies (1) of 82
 
Precise threat: Saudi succession. Fahd can croak any day now, and his successor, Abdullah, is an Iranian sympathizer. But OPEC has such little control on world prices. The long-term depressant on crude is a massive increase in CIS production. But the political situation there isn't any better either. In the meanwhile, Saudis will just have
to live with soaring deficits, and hope that the cuts recently announced will help lift prices. But that won't occur until the market digests the current glut, which could take several months.
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