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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: P.Prazeres who wrote (27189)8/6/1998 2:49:00 PM
From: Richard D  Read Replies (1) of 95453
 
Paulo,

I guess the assumption of my statement was that oil prices will rebound due to the cutbacks in production/drilling in Venezuela, Mexico, North Sea, Nigeria, etc (among other things.) During the period of elevated oil prices, drilling would be weak for companies tied heavily to those countries, while companies based in the U.S. would experience increased day rates and drilling due to oil prices. It's just a theory, any comments?

Richard

P.S. OSX up despite comments on CNBC, another good sign. If the oil experts are out of the market, there is room for good upside when the tide turns, for they will surely buy back in a rush.
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