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: Snowshoe who wrote (26901)	8/3/1998 3:48:00 AM
From: Dwight E. Karlsen	Read Replies (1) of 95453

You didn't go to the link that Harlan gave. It's dated Aug 1. OPEC may be ready for more cuts REUTERS KUWAIT, August 1 Kuwait said on Saturday fellow OPEC states were prepared to take a third round of oil output cuts; possibly no less than one million barrels per day, if world prices failed to recover. ------- The article goes on to say that a third round would be considered in November if oil isn't back up to $17/bbl by then. So for now, nothing is going to happen. OPEC is willing to wait and see the effect of the current commitments. So this isn't a market-moving article.

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