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

To: Broken_Clock who wrote (17352)	3/31/1998 4:19:00 PM
From: SJS	Read Replies (1) \| Respond to of 95453

PK, I was thinking the same thing, maybe more top-down. OPEC bellied up to the bar with minimal cuts, saying "that's all we can do, and we'll see what happens. We think it's enough...." Now, the market responds: Wrong. We know you, you've got a history of cheating and from our perspective: "a bird in the hand is worth two in the bush." Since we didn't get the level we all though was reasonable, we'll squeeze you again and make you get close to your economic pain level. Down goes the OSX. So OPEC, When you're ready to come back and play ball with real cuts, let us know....and we'll oblige you with an increase in price. The market, with it's efficiency, will tell us over the next few weeks if 1.245M barrels/day cut is enough. I don't think so personally. Regards,