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Gold/Mining/Energy : Tusk Energy (TKE)

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To: kingfisher who wrote (993)	11/24/1998 5:16:00 PM
From: Michael M. Cubrilo	Read Replies (2) of 1207

Unfortunately, some OPEC members (Iran, Mexico) have said that they will not be partaking in any more OPEC production cuts. Iraq is still in the wings waiting to send their oil to market. Until the SE Asia crisis is resolved, and oil consumption begins to rise again, I am afraid that we will be seeing a depressed oil price for quite some time. Any instability in the OPEC organization could further weaken prices. What is required is for the consumption side of the equation to pick up, as OPEC cannot be expected (nor is it willing) to share the lions share of production cutbacks when it accounts for about 37% of world oil production. mc

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