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: Think4Yourself who wrote (44745)	5/14/1999 11:39:00 AM
From: Crimson Ghost	Read Replies (1) of 95453

Today's dip another good buying opportunity. Yamani sounding very bullish on oil prices thr 041 opec-cges outlook bright for opec, says uk analysts london, may 13, irna - the centre for global energy studies says that the "outlook is bright" for opec providing its members maintain a reasonable amount of self-discipline over the next six months. "unlike this time last year, iraqi oil supplies are already at peak levels and lower liftings in march have removed the year-on-year surplus in stocks at sea, so that there is no huge volume of oil in transit," it said in its global oil report. the london-based-centre, chaired by former saudi oil minister zaki yamani, projected that a 75 per cent compliance rate with agreed output cuts could "remove over 100 million barrels" from atlantic basin storage by the fourth quarter of this year. its latest monthly forecast in april suggested that the price of benchmark brent crude could rise to 21 dollars per barrel by the end of the year, if opec complied fully with the latest round of agreed cuts. hc/hm end ::irna 13/05/99 23:36

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