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

To: Tomas who wrote (75209)	9/30/2000 11:57:35 PM
From: Tomas	Read Replies (2) \| Respond to of 95453

Initially, Opec officials were cautious about the prospects for a sustained price rise. There was talk of a gentle upward move back to the Dollars 18 a barrel average that was the norm for the past decade. But the sheer irrational exuberance of the oil futures markets took Opec strategists by surprise. In September 1999, as prices pushed confidently past the Dollars 20 a barrel barrier, many Opec officials looked on the market's performance with disbelief. With prices hovering around the Dollars 24 a barrel level, one senior Opec official estimated that there was about Dollars 4 of "speculative froth" in the price. ... From Financial Times, September 29