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To: Post_Patrol who wrote (62951)	3/26/2000 1:22:00 PM
From: Post_Patrol	Read Replies (1) \| Respond to of 95453

Algeria Says Gulf OPEC Members Seek 1.7 Mln Barrel/Day Increase Algeria Says Gulf OPEC Members Seek 1.7 Mln Barrel/Day Increase Vienna, March 26 (Bloomberg) -- Saudi Arabia and three other oil producers from around the Persian Gulf have proposed a 1.7 million barrel a day oil production increase to their OPEC colleagues, an Algerian oil ministry official said. Saudi Arabia, Kuwait, the United Arab Emirates and Qatar, which account for about 50 percent of the Organization of Petroleum Exporting Countries' daily output, have proposed reversing a cut of 1.7 million barrels agreed last March, the official said.

To: Post_Patrol who wrote (62951)	3/26/2000 1:29:00 PM
From: BigBull	Respond to of 95453

Post Patrol, as I understand it the 1.7 number is SA's initial negotiating position - not the final number. It is probably a throw away number used for negotiating purposes only. It is being used by the "dove" and as such is the highest number under consideration. Mexico's new production is to be "phased in" plus I doubt that Iraq can ramp as fast as they say. You may get your 20 dollar oil but I think the odds are strongly against it. BTW the EIA has consistently and chronically underestimated demand.

To: Post_Patrol who wrote (62951)	3/26/2000 1:42:00 PM
From: Nello Filippone	Respond to of 95453

<<Big Bull..."think again" OPEC Considering Output Boost of About 1.7 Million Barrels OPEC Considering Output Boost of About 1.7 Million Barrels>> Post, Can you post the last Bloomberg article that was written prior to an event(or after one) and Bloomberg got it right, or even close? Vienna, March 26 (Bloomberg) -- Blah,Blah,Blah,Blah,Blah ...$10 Oil ......Blah, Blah, Blah, Iraqi's can produce 4Mbd, Blah,Blah,Blah, API's Bearish, Blah,Blah, ................. ..............................................................................Blah, Blah. Usually stop reading after the BLOOMBERG ..... They may get one right, maybe this is the time, but even with 1.7Mbpd I don't think we are seeing OSX 92 anytime soon. Nello