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: diana g who wrote (32030)	11/27/1998 8:45:00 AM
From: diana g	Read Replies (2) of 95453

OPEC meeting spun negatively: biz.yahoo.com "FOCUS-Oil ministers flee wreckage of OPEC meeting By Andrew Mitchell VIENNA, Nov 27 (Reuters) - OPEC ministers on Friday hurried away after a disastrous Vienna meeting that looks like inflicting even more punishment on their oil-dependent economies. The careworn oil cartel's breakdown in cooperation will ensure that this year's crushing price slump gets worse before it gets any better, analysts said. ... In a stormy two-day meeting OPEC could not even agree to extend its 2.6 million barrels per day (bpd) output package as suffering producers proved unable to find common ground. ... ''The body language when delegations came out was as bad as almost any OPEC meeting I can remember,'' said Varzi. ... Not one minister was prepared to brief journalists as they quickly turned tail from Vienna. ..." Etc, etc.

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