Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: marc chatman who wrote (27961)	8/19/1998 7:45:00 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

Mexico-Venezuela & Saudi Arabia....just remember - The Saudi Oil Ministers warning ( threat ) that if he continued to see what he thought were ''artifically'' depressed crude oil prices being manipulated by market traders; that ''he'' would have an unannounced ''special surprise'' for them... He alluded to dramatic unannounced cuts that would catch the ''market'' by suprise - a ''short squeeze'' of substantial magnitude. I would guess that perhaps this meeting is to convince Mexico & Venezuela that the reason that crude hasn't recovered at all; is due to continued trader manipulation and he may try to convince them to join in his ''unannounced - secret'' pact. Perhaps they will do something dramatic like achieving their proposed cuts by just turning off production totally (or as close to a total shut off as possible) - for a short time instead of achieving cuts over a 3-6 month period of slow reductions. They have their backs to the wall ... this is make or break time for OPEC - they will never again have any market influence if they do not deliver. Their pleadings as to this NOT being about further cuts; just doesn't make any sense...

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next