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: Tomas who wrote (31771)	11/12/1998 10:35:00 PM
From: Rob Shilling	Read Replies (1) of 95453

I think this has been undereported: ... Part of a negative report on oils There are, however, some bulls. On Wednesday, Schroder & Co. analyst Michael Mayer raised Exxon stock to outperform and said investors should overweight their holdings of oil equities by 50 percent versus the benchmark weighting. ''While the latest IEA demand estimates may prove correct, as opposed to their widely documented forecasting errors over the past few years, the real story is on the supply side,'' Mayer said in a research report. He points to the fact that the IEA has cut its estimate of oil production from countries outside the Organization of the Petroleum Exporting Countries by 1.8 million barrels per day over the past year, some 500,000 bpd more than it has cut demand, and that OPEC is sticking to its production quotas.

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