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: waverider who wrote (32270)	11/30/1998 3:54:00 PM
From: The Ox	Read Replies (1) of 95453

From Rueters: Kuwaiti Oil Minister Sheikh Saud al-Sabah said Saturday that he feared prices could plunge to the $5 to $7 a barrel range. ''I am afraid that oil prices will deteriorate in the coming months,'' he said on his return from Vienna where OPEC held its winter meeting. The minister said producers needed to reduce output by an additional 1.5 million barrels a day to rescue prices. Bulging oil inventories, a mild winter and a divided OPEC could push prices even lower with no immediate reversal in the slump in sight, analysts said. ''There's no fear of supply shortage whatsoever,'' said Peter Bogin, associate director of Cambridge Energy Research in Paris. ''There's nothing out there giving the slightest hint that the supply and demand balance could tighten in the near term.'' Traders are hard-pressed to find any good news in the oil market. Inventories are high and a mild fall season in the United States has dampened demand, analysts said.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next