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To: SliderOnTheBlack who wrote (60403)	2/16/2000 12:36:00 PM
From: Winkman777	Respond to of 95453

Doomberg's spin on SA's latest mumble. Tokyo, Feb. 16 (Bloomberg) -- Saudi Arabia, the world's biggest oil producer, signaled oil prices should fall by at least 10 percent after more than doubling in the past year to ensure stable growth in the world's economies. With some five weeks until the Organization of Petroleum Exporting Countries meets to debate output policy, the comment from Saudi Oil Minister Ali al-Naimi is the strongest indication yet and bolsters statements from Mexico and Venezuela that producers should pump more oil. ``On average, a price similar to the levels experienced during the last six months is a reasonable one,' al-Naimi told reporters during a visit to Tokyo. Oil producers will guard against ``any disequilibrium that may negatively impact the world's economic growth.' Brent crude oil, an international benchmark, now fetches $27.40 a barrel in London, above the average of $23.90 since mid- August. Crude oil in New York recently traded at $30.15 a barrel, near a nine-year high. OPEC, along with Mexico, Norway, Oman and Russia, agreed in March to remove almost 7 percent of daily crude supply from world markets for a year. Now, with oil soaring, the group is coming under pressure from countries including the U.S., the world's largest oil consumer, to curb prices that pose inflation risks. U.S. President Bill Clinton said yesterday that current oil prices were ``a deeply troubling thing.' He left open the possibility of releasing crude oil from the nation's emergency reserve if producers continue driving up prices by restricting supply. OPEC Cuts The OPEC cuts, which are due to expire on March 31, have succeeded in ending a world glut and helped oil prices to triple from December 1998, when a barrel dropped below $10. Still, divisions are appearing within the group. Kuwait yesterday dismissed calls to increase output, adding that OPEC would keep its current quotas. U.S. inventories of crude and gasoline fell more than expected in the week ended Feb. 11, with oil supplies near a 23- year low, the American Petroleum Institute said. ``There's only one way Naimi can keep prices below $25 a barrel and that's to increase output, whether officially or by cheating' on quotas, said Mohammed Abduljabbar, an oil analyst with the Washington-based Petroleum Finance Co. ``Production is already increasing and will continue to do so.' OPEC's compliance with output cuts has fallen from about 81 percent in June to 63 percent last month, according Dresdner Kleinwort Benson and Petroleum Finance Co. Saudi Arabia's oil output has increased by about 350,000 barrels a day over the last six months to about 7.8 million barrels a day in January. Exercize Caution Crude oil on the New York Mercantile Exchange, or Nymex, could easily rise to $31 or $32 a barrel, said Brian Winborne, a trader at Cargill Investor Services in Minnetonka, Minnesota, who also predicted gasoline futures will reach $1 a gallon by May or June. --------------------------------------------------------------------------------

To: SliderOnTheBlack who wrote (60403)	2/16/2000 12:43:00 PM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 95453

Slider, if you recall I bought OXY yesterday. I'll look at COC. BTW, I sold OXY today for an ok gain to buy more P at the open. Will buy OXY on any weakness. I doubled down on my PXD today and have called IR to find out their latest hedges. I will post when I get the info. I will double down again if it sees the low 7's. If you add USON and HRC to your list in the healthcare area then we will be on the same page. USON book is around $8. It's now near a 5 year low with around .70+ in earnings per year and managable debt. Good long term value play imho at 4 and change. I had sold USON when it broke down under 6 but bought back today. I've kept HRC the entire time and added a small amount today. Still watching your financial picks. I'm waiting for 1 more rate hike which looks inevitable before dipping my toes in.