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

To: chowder who wrote (67338)	5/31/2000 7:39:00 AM
From: Tomas	Read Replies (2) \| Respond to of 95453

"Saudi Arabia may be the only member of OPEC which has any measurable excess supply availability. I view OPEC as being far behind in new exploration and production efforts. Beyond Saudi Arabia, there's probably less than 700,000 barrels total extra production available in OPEC. Of the (1.3 million to 1.5 million barrels) of additional capacity that Saudi might have, it might be able to bring on 800,000 to a million on a short-term basis. The rest would probably take three to six months. If North Sea maintenance takes out a few hundred thousand barrels of daily production this summer, it could get very interesting." George Gaspar, managing director of petroleum research at Robert W. Baird & Co. in Milwaukee Bloomberg, May 30