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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SargeK who wrote (36504)2/2/1999 12:04:00 PM
From: Crimson Ghost  Read Replies (2) of 95453
 
I agree that oil prices will almost certainly rebound some this year. But they will rebound a lot faster and farther if OPEC cuts. I do think the Saudis (really just a euphamism for the US since they take orders from Washington) will agree to modest cuts. But I have been wrong before.

Even if OPEC does cut some, oil company capex will not rise significantly until oil has rebounded a few bucks and stays there for a couple of months. That may be too late for some of the weaker independents and OS players
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