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

To: Crimson Ghost who wrote (92308)	7/20/2001 6:53:40 PM
From: BigBull	Respond to of 95453

George, yes they will try to avert an all out crash. Maybe some cuts here and there to "step down" the price. OPEC has always sought a price or a technique that both discourages the development of alternate sources, discourages non-opec production, yet maintains the Saudi Lifestyle <g>. Imo, given world demand that is now substantially below OPEC's current desired price range. Until there is real pickup in demand, I think the most realistic range they can hope to maintain is mid teens to low twenties.