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


To: SliderOnTheBlack who wrote (78315)11/9/2000 2:25:56 PM
From: Meridian  Respond to of 95453
 
Slider, RE: '97 de ja vu - At least one thing is significantly different ... the amount of excess capacity within OPEC. In '97 Venezuela could produce at will, now they can't. Check out the BHI web site and look at the OPEC rig count. Rigs have to increase before oil production comes online. We're tight and we'll stay tight for quite a while, regardless of the ebbs and flows of oil patch stocks. That's the difference IMO.