Douglas, that report you just posted is so utterly devastating to oil bears that is almost beyond description. Who cares what "the Street" thinks? Not I, said the little red hen. Anybody selling this sector after reading your last post, needs THERAPY. But what the hell, I have an attention span of longer than 5 seconds, so I'll just keep buyin' what they be a sellin'. Anyway, along the "OPEC means business" line, this news out of Iran:
thr 064
exports-oil
iran's crude oil exports to be reduced
tehran, april 6, irna -- following the recent opec agreement to
reduce oil production ceiling to boost prices, the national iranian
oil company (nioc) will also cut down on its oil output, announced
the nioc's public relations department here tuesday.
the announcement also said that the reduction in exports in april
and may will be at at least 10 and 12 percent, respectively, of the
february's daily export volume.
the nioc has expressed the hope that with coordination between the
company and its clients, prices will undergo further stability in the
future.
nb/rr
end
::irna 06/04/99 19:14 |
