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

To: The Jedi who wrote (6617)	1/5/1998 1:58:00 PM
From: Czechsinthemail	Read Replies (2) \| Respond to of 95453

Apparently Schroder & Co.'s Michael Mayer has suggested average crude prices this year will be about $18 per bbl. That's down from the previous forecast of $19. He indicated a possible bottom around $15 unless OPEC reigns in production. At these prices drilling activity should continue strong, particularly in the deep offshore projects. But the negative sentiment caused by drops in crude prices may continue to weigh heavily on the sector until earnings announcements and conference calls. Then the drilling execs will have a chance to reiterate that business remains strong, forecast looks good, etc. Baird