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

To: Razorbak who wrote (63023)	3/27/2000 12:14:00 AM
From: Warpfactor	Respond to of 95453

More prognosticating in the bullish camp: thestreet.com Company mea culpas aren't the only worry in the coming week. OPEC will meet Monday in Vienna to determine new quota levels. Recent talk in the market is that it will increase production 1 million to 2 million barrels a day over the current quota of about 23 million barrels. Considering that, because of cheating, actual output is around 24 million barrels, that doesn't represent much of an increase. If the increase is not in the upper range of what the market is talking about, oil prices could head higher again. It could well happen -- though there has been heavy pressure from the U.S. and other oil importers for increased production, the OPEC ministers have other concerns. "I don't think they want to forego the improvement in finances they've seen, and they don't want to look like they're caving in to the Clinton administration," said Bill Sullivan, chief money-market economist at Morgan Stanley Dean Witter. "We got as low as $27 a barrel, and I imagine that's the low. This sense that energy prices are rolling back may be over."