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: BigBull who wrote (45545)	5/27/1999 10:56:00 AM
From: diana g	Read Replies (1) of 95453

BigBull, I think you have something there about the Saudi's prediction of $18-20b in the very near future being based on their more informed understanding of the real supply situation. Seems to fit nicely. (The only thing I didn't like about the Saudi statement was that it was Not made by the Saudi Oil Minister, but by an un-named "Saudi oil official". Did this guy come out of the Oil Ministry with a bag over his head to read the statement? Was he chosen because the minister himself didn't want to damage his own credibility but wanted to prop up the price of oil --which was weak-- with this statement? ) Matt Simmons' explanation of the missing barrels seems a lot more reasonable to me than the alternatives, and I am expecting that in years to come we will look back and laugh at the 'missing barrels' episode and wonder how people could have been so gullible as to swallow such foolishness. Nevertheless, it is a beautiful day here so I'm going to take my dogs and go out into the woods to search for those missing barrels. (DD, you know.) regards, diana

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