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

To: Tomas who wrote (60516)	2/18/2000 7:01:00 AM
From: Tomas	Read Replies (1) \| Respond to of 95453

Oil price comments by Phil Flynn, vice president and senior market analyst at Alaron in Chicago ``I feel that they (OPEC) don't really want to raise production if they can talk it down instead. They'll have problems divvying up the pie if they raise production. They'd like to get through this price crisis, the problem is that the political pressure is growing, with Clinton speaking yesterday and now Mr. Greenspan, the architect of the world economy. ``At $10 a barrel, we saw OPEC's point of pain and we knew they would have to do something. Now, at $30, we may be seeing the point of pain for OPEC and the U.S.' at the higher end of the range. ``What I see is that we are planting the seeds for the top of the price range. The real point of pain is $35 and they are acting aggressively now at $30 so they don't come to that stress point. ``So far, it's all been talk, which hasn't added one drop of oil, but talk is very effective at times to let a little air out of the balloon. ``If you're a trader and you get a negative comment at $30, then you've probably already made profits and it's time to sell.' From Bloomberg Energy, February 17