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

To: dfloydr who wrote (55723)	12/1/1999 5:45:00 AM
From: oilbabe	Respond to of 95453

Rodr¡guez: 2000 a positive year for petroleum Energy and Mines Minister Al¡ Rodr¡guez ? back from an extensive tour of the Gulf region as well as a trip to OPEC headquarters in Vienna, and visits to Algeria and Spain ? says that the New Year will be positive as far as the petroleum sector is concerned. Rodr¡guez confirmed that an extension of the oil production quotas put in place by OPEC last March is still on the cards when the restrictions are reviewed at the end of March. Rodr¡guez added that he expects the recovery from the low prices seen at the end of 1998 and the beginning of 1999 to continue in 2000 and for international oil markets to show certain stability. Venezuela, Saudi Arabia and non-OPEC Mexico yesterday agreed to help out in an unlikely scenario of oil supply disruptions due to glitches caused by the Y2K factor. This news helped bring down the price of Brent futures to $24.85 yesterday and a further 40 cents today to $24.45 ? almost $1.50 from last week?s 9-year high of $25.90. Rodr¡guez also added that there could still be a slight change in the scheduled three-day heads of state summit due to begin in Caracas on March 30, confirming that the matter was in the hands of President Hugo Ch vez.