Jon,
I agree with your 3491, that oil prices go up. And crude oil prices also go down. Crude, on average the last I looked, is around $14-16/bbl. If the Asian recovery takes longer than expected, most analysts don't look for crude to go up very much, if at all. The short-term rise and fall of OPEC oil happens all the time, but longer term, most analysts don't look for a major upswing any time soon. And, if it doesn't go up in a big way, most of the oil service and drilling companies will probably not change much. Or, do you know something different?
A short-term disallocation, like the Gulf War, obviously can affect individual companies like GLM, but without a major occurrence, OPEC projections are viewed by most as holding relatively steady in the short-to-mid term.
Vic |
