Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Sergio H who wrote (21368)	10/15/2000 11:24:58 AM
From: Ken W	Read Replies (2) \| Respond to of 29382

Sergio: "I have not a clue" Maybe not into anything oily <GGGG> Sunday October 15, 7:15 am Eastern Time Saudi Says OPEC May Act Before November By Rawhi Abeidoh ABU DHABI (Reuters) - Saudi Arabia's Oil Minister Ali al-Naimi said Sunday OPEC was concerned about high oil prices and may act before its November meeting to stabilize the market. Naimi said the oil cartel was working for market stability in cooperation with producers from outside the organization. Asked if OPEC would decide to increase production before its scheduled November 12 meeting, Naimi said: ``Everything is possible, even before the meeting. This depends on the price.'' ``Our aim is to get an average price of $25 a barrel,'' he said an energy conference in the United Arab Emirates. Brent crude oil futures hit a 10-year high of $35.30 on Thursday, amid Israeli-Palestinian violence and the bombing of a U.S. warship in Yemen. Prices were also boosted Thursday by comments from Saudi Crown Prince Abdullah that the world's largest oil exporter would take ``decisive measures'' if Israeli attacks on Palestinians continued. Other Gulf Arab oil ministers attending the conference said the Organization of the Petroleum Exporting Countries must not rush to raise output and attributed recent price hikes to violence in the Middle East. The ministers of the oil-rich region, including the world's largest oil exporter Saudi Arabia, also assured markets that producers would not cut supplies over the Middle East crisis. Asked if Arab producers would cut oil supplies in support of Palestinians in their fight against Israel, Naimi said: ``Let us not talk about this subject. I don't see any use in such talk.'' ``The concern now is with high prices and our efforts are to bring them down,'' Naimi said. Market jitters eased Friday after sources familiar with Saudi thinking said the kingdom would not consider cutting oil exports to punish the United States for what Arabs see as its support for Israel. Brent crude closed down $2 at $32.60 a barrel in London Friday. Naimi Saturday ruled out a cut in oil supplies. This will add some stability to things on Mon. I bet. Is there a short fund run by Janus that Ditch can play? LOL Ken