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Gold/Mining/Energy : Oil & Gas Price Economics -- Ignore unavailable to you. Want to Upgrade?

To: semi_infinite who wrote (248)9/9/2000 12:29:33 AM
From: rajaggs  Read Replies (1) | Respond to of 350
 
Ray Tang,

I'm not sure what you mean by excessive. It apparently isn't excessive enough right now to alleviate the shortage of crude oil coming into the US.
On Bloomberg there is an article today, about the promised increase in oil exports from OPEC, coming mainly from the Saudis but a commentator notes that even 700,000 bbl/day increase will not be enough. It is also noted in that article that there have already been two increases so far this year and they have failed to stem the tide of rising prices.

It's a worthwhile read.



To: semi_infinite who wrote (248)9/11/2000 10:27:41 PM
From: The Barracuda™  Respond to of 350
 
Its not much I believe I read 1 to 2 MMBBL/day

Due to low prices, the Saudi's have not invested in infrastructure and cant do much more until they spend a lot of bucks to upgrade and that takes time.


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