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

To: Chuzzlewit who wrote (17928)	4/3/1998 2:41:00 PM
From: Czechsinthemail	Read Replies (3) \| Respond to of 95453

Some oil market news from Dow Jones: Apparently China has announced that they will be cutting production by 150,000 b/d. Also, there are rumors of a possible OPEC/Russia meeting in Moscow this weekend to discuss weak oil prices and possible Russian cutbacks. Baird

To: Chuzzlewit who wrote (17928)	4/3/1998 2:44:00 PM
From: bw	Read Replies (1) \| Respond to of 95453

Paul..Read the post AND the follow up. His comment was based on out-dated material. Here is the link...[read follow-ups] exchange2000.com

To: Chuzzlewit who wrote (17928)	4/3/1998 3:13:00 PM
From: HH	Respond to of 95453

Paul, I think the coupling of crude prices and shareprices of driller is a real thing. Listening to drillers conference calls last qtr there was strong sentiment that it is the historical price of crude that drives drilling. Over the long term, oil prices(it was argued) have remained stable and predictable. I think the last few months have tested that confidence. Glm . Luigs was argueing (rather arrogantly) with analyst regarding the drop in shareprice being caused by "temporary blip" of oil prices, and that it shouldnt be such a factor. The analyst (I forget which one) made a strong stand that the drop in shareprice was caused not so much by drop in oil but by the FEAR of RECESSION. And that during the last recession,the drillers got hit hard. I dont have my notes in front of me but it was an interesting exchange. HH