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To: Czechsinthemail who wrote (23469)	6/5/1998 1:07:00 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

Baird, The newspaper analysts are way off IMO as an oil industry person, on their take of today's Amsterdam meeting. They are moaning that only 450,000 bbls/day will be removed from world markets and not 550,000 as expected. Playing the "numbers game" misses the main point! The point is that these three Ministers got together and in one day agreed to additional cuts. Just one meeting, one day. Get the drift? They are ratcheting down production levels gradually until they hit a satisfied market supply/demand equilibrium. Trust me this meeting makes very clear to me that the OPEC+ Group is very serious about raising oil prices- and they will continue to tweak production levels until they reach that result. If an additional 450,000 bbls/day reduction does not "do the trick" I'll bet a dollar to a doughnut that there will be another "Amsterdam Meeting" next month too.... Sincerely, Doug F.