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: SJS who wrote (27672)	8/13/1998 9:45:00 PM
From: marc chatman	Read Replies (1) of 95453

Some details on Saudi and Venezuelan compliance: Caracas stocks end flat, but oil prices good omen Reuters Story - August 13, 1998 16:14 CARACAS, Aug 13 (Reuters) - Venezuelan shares prices closed broadly flat in slow trade, but firmer oil prices bode well for future sessions, traders said. ... World benchmark crude Brent for September delivery closed up $0.32 at $12.12 per barrel on news Saudi Arabia had made hefty cuts in export volumes in September. Analysts said Saudi's move brings the kingdom fully into compliance with its global pledges to choke output and boost flagging prices. Venezuelan Minister of Energy and Mines Erwin Arrieta said separately Thursday Venezuela was only 50,000 barrels per day (bpd) off its own 525,000 bpd promised cut. ... newsalert.com

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