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

To: Tomas who wrote (62890)	3/24/2000 8:50:00 PM
From: Tomas	Read Replies (1) \| Respond to of 95453

Crude Oil May Rise as OPEC Seen Approving Small Output Boost New York, March 24, 18:27 (Bloomberg) -- Crude oil could lead commodities higher in coming days on signs that OPEC won't raise production enough on Monday to meet second-quarter demand and rebuild world inventories that are the lowest in a decade. OPEC delegates, arriving in Vienna to set production levels, have agreed to a ``small' rise from current quotas, Venezuela's deputy foreign minister said today. Since members already exceed output quotas by about 1 million barrels a day, world supply could end up little changed, traders speculated. Industrialized nations say they need at least 2 million barrels a day in new supply. ``If it comes out as I see it, they'll raise quotas by 1 million -- which means they don't raise production at all,' said Bill O'Grady, director of fundamental futures research at A.G. Edwards & Sons in St. Louis. That would send prices to $30 a barrel from around $28 now, he said. quote.bloomberg.com