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

To: Tomas who wrote (55719)	12/1/1999 7:38:00 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Saudi's Economic reality is that they must have sustained $22+ crude for some time yet ! That Financial Times article posted by Tomas, said it all imho. <<Even this year's buoyant oil prices will not be enough to bring the current account back into surplus. The IMF predicts another, albeit smaller, current account deficit of $3.7bn this year against $12.9bn last year.>> ANYONE who thinks that OPEC is going to do ANYTHING to burst the crude bubble here ANYTIME soon is a complete and utter moron imho. The royal families are more likely to participate in a "Jim Jones-eque mass Kool Aid suicide" than to open the spigots of Oil production anytime soon imho. To do so here, is to literally put the gun to their head and pull the trigger... The Financial situation in the Middle East is still in disrepair. They need Oil prices here for a considerably longer period of time than the Oil Markets realize. Play directly against and leverage into this "bet" the market is making against OPEC and do it with 110% supreme confidence imho. That last time I looked, the Saudi's weren't in a suicide watch mode yet... They'll maintain cuts - which maintain prices; because they have no damn choice - period. end of story.