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

To: Shelia Jones who wrote (18700)	4/10/1998 11:34:00 AM
From: Lucretius	Read Replies (2) \| Respond to of 95453

<<Commercial oil stocks held by the world's industrialised nations appeared to register a surprising and sizeable decline in February, the International Energy Agency (IEA) said on Friday. There was also the ''growing possibility'' that the IEA had overestimated world oil supply in the early part of 1998, the report said.>>> GEE!!! tell us somehting we don't know!! (ggg) Idiots. They deserve what they're going to get.... much higher oil prices in the very immediate future. I think we'll be back to $19 by mid summer. -Lucretius

To: Shelia Jones who wrote (18700)	4/10/1998 10:47:00 PM
From: RealMuLan	Respond to of 95453

<<There was also the ''growing possibility'' that the IEA had overestimated world oil supply in the early part of 1998, the report said. This remind me of the following view, which is not that far-fetched. <<NEW YORK, March 30 (Reuters) ... Paul Ting, a Salomon Smith Barney energy analyst, offered a view different from that held by other analysts, saying that a cut of 1.3 million bpd ''will be more than enough'' to strengthen oil prices and offset current negative factors. In a paper released this morning, he identified the negative factors as the current oversupply, weak demand from the Far East and the expected increase in crude exports from Iraq. Ting estimated the current oversupply at 400,000 bpd -- far below what he said was the ''popular oversupply belief'' of 2.5 million bpd.