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To: Jim Patterson who wrote (137385)	7/22/1999 4:17:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 176387

As you know oil price is just one component of the equation,I don't know if you read the report put out by British Petroleum's economist Mr.Philips or Davies something or the other (I posted it here a few months ago), he saw oil prices stabilizing around $20 going forward,he said in the wake of an economic recovery in Asia the maximum increase in demand from the area wouldn't exceed 10%.It is also a known fact that when the price of oil increases so does the rig count and therefore the supply,we'll have to see.