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: Douglas V. Fant who wrote (30253)	10/1/1998 3:23:00 PM
From: marc chatman	Read Replies (2) of 95453

The agreement seems to be working. But I have a problem with the spin. Insofar as the traders move crude prices in the short term, the threat of further cuts keeps them honest. It's ok to sit and monitor the agreement, but they should not be so arrogant as to say something to the effect that they are not considering further cuts and are talking about how long the agreement will be necessary. (I don't believe it is arrogance; stupidity gets my vote). But maybe they have their contracts and prices locked in for now and don't care about the day to day fluctuations in crude.

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