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To: Lucretius who wrote (15217)	3/17/1998 10:06:00 PM
From: pz	Respond to of 95453

I sure hate to get too optimistic here but...most of the charts I looked at tonight were sitting at support. Also the news that Venezuela maybe willing to deal and the GOM lease auction tomorrow. Tomorrow could be a very exciting day....we are sure due a positive one. :o) Paul

To: Lucretius who wrote (15217)	3/17/1998 10:11:00 PM
From: Grommit	Respond to of 95453

Anyone know how much of a percent cut this would be for OPEC? I figure 12% or so (but that is just OPEC, I think, and my data is sketchy). My simple math says that it's a no-brainer if you cut production by 12% and prices rise by 50%.

To: Lucretius who wrote (15217)	3/17/1998 10:25:00 PM
From: JGreg	Respond to of 95453

I also picked up this quote: Venezuela's willingness to endure lower oil prices helped send crude oil futures to their new lows. Venezuelan President Rafael Caldera said Tuesday in Brussels that while continuing low oil prices would be a tragedy for Venezuela, "we are willing to accept the consequences."