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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Mike from La. who wrote (39133)3/7/1999 9:12:00 AM
From: Snewts  Read Replies (1) of 95453
 
Re. OPEC meeting contest.

For the approximately one hundred different reasons mentioned here
and elsewhere, they must cut, and they will cut. The most compelling
reason to cut is because the other two main alternatives would cause
too much pain for the producing countries. Doing nothing would
cause a continuation of the current situation in which no one is
winning, and in my opinion there is no chance of SA or anyone else
(except Irac of course) going to maximum production and attempting to flood the market.
I see a cut of about 1.2 to 1.8 million with buy-in from Ven., Mex., and even a token cut from Russia.
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