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: SliderOnTheBlack who wrote (42955)	4/22/1999 11:04:00 AM
From: BigBull	Read Replies (1) of 95453

Well Slider, maybe you and the Dog may finally get me "comin' to Jesus" but its kicking and screaming and with thick great trails in the dirt. Took some chips off today AT A PROFIT!!!!!! Haven't lost a dime in this sector yet and don't intend to. Plus some of my old honeys like VRC and OII are starting to sing their siren song. Ain't touching UFAB though. Will be on that one like a demon on ANY dip. Looking to build a big position there About Yamani; he may be good for a little pullback in oil here, but I strongly disagree with his public assesment that the only force GOING FORWARD in the price of oil is OPEC. These guys only need a couple of months to sop up the "excess inventory". By that time the whole planet will be in strong recovery mode and the whole tenor of the press reporting will change RADICALLY! We will no longer hear the words Cheater for instance. We will hear phrases like "OPEC must supply a thirsty world with it's insatiable need for oil!" No Slider, the supply and demand reality is rapidly shifting from over supply to equilibium to deficit. Yamani and his Arab friends are trying to jawbone the price oil to lower than 18 bucks for right now for strong political and economic reasons. These guys know exactly what is going on in Asia, and they don't want anything like 25 dollar a barrel to upset the process. Ditto for Europe, and Latin Emerging markets. They know they will make far far more money if they can help nurse the Global economy along and solve their current cash squeeze AT THE SAME TIME. Long story short - oil at 17 to 20 for three years is better than oil at 25 for three months. IMO this is strictly JAWBONING.

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