Oil & Gas Price Economics Message Board

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Gold/Mining/Energy : Oil & Gas Price Economics

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To: diana g who wrote (121)	5/11/1999 9:04:00 AM
From: jackie	Read Replies (2) of 350

diana, Most interesting part of interview: Indications some of the monster reservoirs in the Mid-east are showing the early signs of depletion. Once started, depletion grows at an exponential rate. Also, this week's Barron's was loaded with references to the climb of oil prices. Barron's is always about 1 to 3 months ahead of general public perception of market movements. Barron's also reported damage to Iraq oil fields due to rapid overproduction of same. If true, would appear to end Iraq's possible role in future as spoiler of OPEC production restraints. UN permission of Iraqi oil production based on total dollar figure, not barrels. At higher prices, fewer barrels permitted to Iraq. So two reasons for future slowdown in oil production from Iraq. Jack

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