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: SliderOnTheBlack who wrote (32878)	12/16/1998 9:05:00 AM
From: Crimson Ghost	Read Replies (2) of 95453

Slider: We should indeed get a decent rally here. But I think we all must recognize that there still is substantial downsidw risk if oil prices fall back again. Two days ago Royal Dutch told an analysts meeting that 1999 upstream capital spending could drop as much as 40% if crude does not rebound substantially. The OSX has discounted 20-25% cuts in capital outlays, but most assuredly not a 40% plunge. If oil prices were to again move towards single digit levels, now lows on the OSX would be a virtual certainty as that 40% number gained credibility.

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