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: Jon Cave who wrote (37687)	2/18/1999 10:19:00 AM
From: Mike from La.	Read Replies (4) of 95453

I'm not sure when buying may begin, but i think that there will be buying by those who anticipate an OPEC agreement. If OPEC doesn't agree, dead. I personally think OPEC will agree since they all have everything to gain by agreeing, and nothing to gain by not. Venezuela had been the big quota buster, and they've complied. As the agreement time gets closer there will be more and more news attention on it. The news will be filled with every new rumor, will they or won't they, analysts opinions etc. It will become the oil event of the decade, touted as life or death for OPEC, the industry etc. I suspect, at some point, buyers are going to come in anticipating an agreement. Just my guess, but I'll be looking for it over the next month. Mike from La.

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