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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Evolution who wrote (54438)	11/11/1999 8:10:00 AM
From: oilbabe	Respond to of 95453

Oil Prices Still Not High Enough to Prompt OPEC Cuts Review, UAE Says Abu Dhabi, Nov. 11 (Bloomberg) -- The United Arab Emirates said this week's 6 percent rise in crude oil, to close to its highest level in three years, wasn't enough to prompt the Organization of Petroleum Exporting Countries to review self- imposed output cuts. Oil prices rose earlier this week on reports output cuts among the world's top oil-exporting nations have wiped out a global oil surplus. The International Energy Agency said Tuesday crude oil inventories in developed countries fell 1.2 million barrels a day in September, reducing the total by 4 percent. ``It's too early to talk about prices being too high,' said a U.A.E. oil ministry official, adding there ``wouldn't be any change to OPEC policy before March.' He said prices on a yearly average were below $17 a barrel, still less than OPEC's target price of $21 a barrel. Benchmark Brent crude oil rose to as high as $24.20 a barrel yesterday, from less than $10 last December as 10 members of OPEC, along with Oman, Mexico, Russia, and Norway agreed to cut world oil output by about 7 percent for a year starting April 1 in order to wipe out an oil surplus. Now, available global stockpiles of crude oil and other petroleum products stand at about 81 days of consumption, down from 86 days at the beginning of the year and their lowest level since late 1997, according to London's Centre for Global Energy Studies, which considers 80 days the normal level. Still, the oil ministers of Iran, the second-biggest oil producer within OPEC, Kuwait and Algeria have all said this week oil producers are likely to maintain production cuts after they expire next March.

To: Evolution who wrote (54438)	11/11/1999 8:15:00 AM
From: oilbabe	Respond to of 95453

Rodr¡guez expects OPEC cuts to continue until June Energy and Mines Minister Al¡ Rodr¡guez said today that he expects Venezuela to extend OPEC oil production cuts currently in place until at least June 2000. Rodr¡guez said the reason behind the decision is to offset the expected drop in oil demand during the second quarter of next year. Non-OPEC Mexico too echoed a desire to continue with cuts imposed by the oil cartel last March and implemented on April 1. Mexico says it will extend production quotas in place until June providing other oil producers agree to do the same. Rodr¡guez forecast an extra demand in oil next year of between 2.5 and 3 million barrels per day at a global level. The minister is about to leave Caracas for a trip to Vienna where he will deliver a first draft of details of next year?s OPEC heads of state and oil ministers summit scheduled for Caracas beginning March 27. He will then travel to Riyadh for a meeting with his Saudi Arabian and Mexican counterparts slated for next week before going on to tour various Gulf states to continue discussing oil policy and analyzing the latest market developments.

To: Evolution who wrote (54438)	11/11/1999 8:42:00 AM
From: Terry D	Read Replies (1) \| Respond to of 95453

Dr. Darwin - No doubt you wish to ignore the infantile prattle from .... I already have done so as have hundreds. You need to click on the message number and view the message individually, at the bottom will be the usual choices - including the new IGNORE feature. You can then tune it by ignoring just the fool or even the replies to his droolings (which didn't work because Big Dog inadvertently replied and I couldn't read his input.) Let me tell you - it is bliss. Until the 12 year old known as PP goes back to getting beat up on the playground for his Pokemon collection - all you will ever see of him is : This Message has been Ignored Isn't that beautiful? t d ps - some great news re: OPEC this a.m.