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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Richard D who wrote (27864)8/17/1998 1:20:00 PM
From: Douglas V. Fant  Read Replies (1) of 95453
 
Richrd, Saudis or fundamentalist, both will need to sell the oil- which raises an important point. There is about 5m/day overcapacity in OPEC currently and that overcapacity will rise as new e&p projects come onstream over the next five years.

So OPEC discipline will be necessary to maintain prices- at least until Asian demand picks up again....

Sincerely,

Doug F.
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