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


To: Elmer who wrote (20956)5/1/1998 12:37:00 AM
From: Tulvio Durand  Respond to of 95453
 
OPEC oil production cuts are irrelevant as long as they don't reduce supply below the rate of oil consumption. Oil production will automatically be cut when there's no more storage available for the glut. Oil stocks are approaching the largest in history. Supply and demand balance will be restored when there's no place to store the excess oil. The excess-oil problem is self correcting. Tulvio