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

To: The Perfect Hedge who wrote (13907)	3/6/1998 1:23:00 AM
From: Czechsinthemail	Read Replies (1) \| Respond to of 95453

Some notes on crude oil from Dow Jones: UN oil experts are recommending that a $400 million shortfall in Iraqi oil exports be rolled over to enable Iraq to meet its $2.1 billion oil-for-food quota. That would entail an additional $400 million in additional crude sales between Friday and June 3. Though many OPEC countries are calling for meetings to reduce oil production, many traders remain skeptical unless Saudi Arabia and Venezuela show some commitment to reduce their production. Venezuela is currently producing about 3.3 million b/d compared with their OPEC quota of 2.583 million b/d. They estimate their average production for 1998 will be 3.6 million b/d. Baird