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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 163.32

+2.3%

Nov 21 9:30 AM EST

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To: Maurice Winn who wrote (20544)	12/30/1998 7:56:00 AM
From: Jon Koplik	Read Replies (1) of 152472

Maurice - re : Incidentally, I see the Kuwaitis were also talking about $5 per barrel if OPEC can't maintain production reduction. I don't see how they can maintain production cuts while Saudi Arabia and other low cost producers are going broke. Saudi Arabia can make a lot of money by producing heaps at $5 per barrel. NZ fields would go bust quite quickly. So would North Sea, other offshore fields and a lot of onshore fields too. Having watched a lot of commodity markets for a long time, I would like to add a thought. Since no one (meaning oil companies, oil service companies, and shareholders (both institutional and individual)) has been making a hysterical spectacle of "Oh my God ! Look at the price level of oil ! What is this going to lead to ? etc. etc." -- I would predict that the price decline in oil is not yet over. (But, it may be over in (cash) live hog prices). Jon.

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