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Politics : Idea Of The Day

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To: Anne Stehley who wrote (24345)	3/16/1999 8:30:00 PM
From: IQBAL LATIF	Read Replies (2) of 50167

Thanks Anne, Oil is something that interests me the politics of Oil and the cartelisation which I think will fail. More will come but remember 'buy the rumor sell the news'. Arabian tales have left a legacy of 'deceit and cheating' in OPEC, so I am sure we will not see the agreement being followed in strict sense and the order of compliance required. USSR and some others have short term problems, for them Oil above 15$ may be a blessing in disguise to over-produce. Something that has not worked for last 20 years 'the cartelisation' is not going to work now, before taps are opened this may be the final straw on the camels back, short term long -- 78 on OSX is doable if 55 is not taken out..out of that range my visibility is nill. Zaki Yemani the great strategist of Oil thinks 15$ can be maintained, I doubt it that this is possible beyond 6 months. I also think some Oil talks will hit the market as 'inflation'comes into play as Oil moves higher, but that is a seperate subject.. I hope you get my drift, keep close to your investments. Sorry I missed you in Paris.. I hope you had a great time. Take care and love and regards from Ike..

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