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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (58817)9/10/2000 10:17:12 AM
From: WWS  Respond to of 99985
 
Les, since OPEC (mainly in the form of Saudi Arabia) was already producing about 500-600,000 b/d OVER its previously established quotas, the current announcement of 800,000 b/d over EXISTING QUOTAS (note that the agreement did not state "over existing production") actually represents a true increment of only 200-300,000 new barrels per day. Now, if we can just find a few more supertankers to carry the stuff here, and refiners with sufficient residual capacity to turn that much more sour crude into product, then we might see an effect on our USABLE supplies of distillate and gasoline.
bloomberg.com



To: Les H who wrote (58817)9/10/2000 12:23:17 PM
From: Square_Dealings  Respond to of 99985
 
<<OPEC set to boost output by 800,000 bpd>>

On a few boards I follow they are saying that the increase is in the original quota so in effect it translates to 100,000- 300,000 bpd over the current production levels (since the quota has already been raised 500,000 bpd)

If anyone can clarify this it would be appreciated. I guess the market will tell us tomorrow.

M.


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