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: Wowzer who wrote (44118)	5/6/1999 9:10:00 AM
From: SliderOnTheBlack	Read Replies (3) of 95453

Don't kill the messenger.... >>>VBG<<< ie: Sustainability bloomberg.com Crude Oil Drops as Shell Questions OPEC Discipline to Resist Higher Prices Crude Oil Drops as Shell Expresses Doubt Over OPEC Discipline London, May 6 (Bloomberg) -- Crude oil fell 1.5 percent after the Royal Dutch/Shell Group said the Organization of Petroleum Exporting Countries may lack the discipline to keep prices above $15 a barrel, casting doubt over a rally to 16-month highs. Even so, skepticism that OPEC will continue to restrain output is undermining oil's recent rally. In its first-quarter earnings statement, Shell said that ''production discipline may be difficult to maintain'' for OPEC, and a ''new phase of price weakness could be triggered.'' +++++++++++++++++++++++++++++++++++++++++++++++++++++ "the discipline to keep prices over $15'' - FIFTEEN DOLLARS... Is $18+ a ceiling, or a floor ? Does it even matter; if the Intnl Oil Majors think it is AND are budgeting that it is ? How will the Market handle ''any'' bad news, let alone ANY retracement in crude prices - in a coming 3 month deadzone newswise; given the fastest & highest stock run in OSX history ? Have a plan and profit taking is a good thing. ...a travel day for me today; got the limits set both to the upside & the darkside: be carefull out there.

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