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

To: Post_Patrol who wrote (62979)	3/26/2000 5:55:00 PM
From: BigBull	Read Replies (2) \| Respond to of 95453

Well shuckums Post, I've got my diapers ready, but I don't think I'll need them because I read the WHOLE article. I found this choice little nugget of information. ------------------------------------------------------------ Even with those supplies, the increase being discussed falls short of the 2.3 million barrels a day that the International Energy Agency says is needed to rebuild worldwide stockpiles. ------------------------------------------------------------ Sounds like OPEC is behind the demand curve to me. But then again MAYBE, just maybe Bloomberg has it right this time, and world wide crude stocks stay just where they are - record lows. You wouldn't be trying to make a silk purse out of a sows ear would ya?

To: Post_Patrol who wrote (62979)	3/26/2000 6:12:00 PM
From: pilot_light	Respond to of 95453

"Real" increase may be as small as 600,000 from AP article news.excite.com Al-Sabah, the Kuwaiti minister, said later that OPEC members were talking about a possible increase of 1.5 million-1.7 million barrels a day. However, any official increase would not be as large as it may seem due to the more than 1 million "unofficial" barrels that OPEC members are currently pumping each day. This cheating on production quotas means that a daily increase of 1.7 million barrels would only add about 600,000 barrels of actual new oil to the market.