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: Redman who wrote (44705)	5/13/1999 5:29:00 PM
From: BigBull	Read Replies (1) of 95453

Redman, The $64,000 dollar question is when that reserve decline shows up in the API and DOE numbers. Up until recently, the Saudi's have been shipping most of their oil to the US market, and have curtailed initial shipments to the far east. This is for April, and March mind you. This fact may have temporarily masked the powerful influence of the US shut in/E&P cuts/reserve declines. Now it appears as if the Suadi's are shifting cuts to the US and and Europe. Will the Saudi June cuts make the US production cuts "more visible"? This theory squares with the IEA analyses that OPEC cuts really begins to bite in June. If this is true, then one would assume that institutions will begin to build positions now, as per Sliders theory. C'mon you industry people, help poor old Bull out! Any body got an opinion? Let's "smell this one out" together. I may just turn off the radar screen, and have PartyTime call me in Sept. <g>

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