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To: articwarrior who wrote (52758)	10/11/1999 12:19:00 AM
From: P.Prazeres	Read Replies (1) \| Respond to of 95453

quote.bloomberg.com

To: articwarrior who wrote (52758)	10/11/1999 5:23:00 AM
From: oilbabe	Read Replies (1) \| Respond to of 95453

Crude Oil Steady as Traders Watch OPEC Output Compliance London, Oct. 11 (Bloomberg) -- Crude oil was little changed, after suffering its biggest one-day drop in 10 months, on expectations that oil exporters would maintain compliance with output cuts until a world glut ends. Crude oil fell 15 percent last week on concern the 11-nation Organization of Petroleum Exporting Countries produced more oil in September. OPEC output rose 0.7 percent from August levels, according to a Bloomberg survey, in spite of promises from the group to limit supply. ``OPEC is still complying with output cuts, and oil stocks are being drawn down,' said Christopher Bellew, a broker with Prudential Bache (Futures) Ltd. ``The blood letting last week was an over-reaction.' Brent crude oil for November delivery fell 2 cents to $20.68 a barrel in early trading on the International Petroleum Exchange. Crude oil for delivery in November on the New York Mercantile Exchange was 15 cents higher at $21.05 a barrel. Oil prices had more than doubled so far this year after 10 of OPEC's member nations, along with countries outside the group such as Norway, Mexico, Russia and Oman, agreed to cut supply, raising concern over a shortage in the next few months.