Oil & Gas Price Economics Message Board

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Gold/Mining/Energy : Oil & Gas Price Economics

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To: Ed Ajootian who wrote (108)	5/3/1999 10:14:00 PM
From: jackie	Read Replies (2) of 350

Ed, Notice the reasons given for the price increase: <<These factors include the OPEC cuts, lost non-OPEC production, the war in Kosovo, signs of recovery in Asia, refinery problems and the onset of the peak summer gasoline demand season.>> In addition, the market has been laboring under the delusion there are hundreds of millions of 'missing barrels' for several months. It's as if these barrels of oil everyone thought were there are just gone. $19 sounds high, but has been the average price for oil throughout the nineties. Are we just going to run up to the average and pull in for a graceful halt at the average? Or are we going to over shoot into the twenties? I really don't know. But I was not expecting $19 until the end of the year. How can the market make the psychological adjustment in a calm manner under these circumstances? Thanks for the news item. Regards, Jack Simmons

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