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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (41640)	2/28/2000 7:48:00 AM
From: Greg Jung	Respond to of 99985

Re: Oil & exploration/service Thus far the price has been driven by supply constraints, not demand, so oil service has not had the boom times normally expected: production was ramped down during the $12/bbl days and no one is in hurry to ramp back up. Demand will be driven by world economy which is dampened by a high oil price. Added domestic supply could surely be sustained in current environment bu always at the whimsy of OPEC: when they want todrive out competition they can do it. Now they can rake in profits from the higher prices (3x oil bbl increase from xx% production cut) and maintain the threat of glut, fresh in our minds. Greg