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


To: Lazlo Pierce who wrote (23506)6/5/1998 3:21:00 PM
From: Tulvio Durand  Read Replies (2) | Respond to of 95453
 
When there's no storage space available, how does the promise of an oil production cut in July affect the price of oil residing in tankers today? Nada! The truth is that production will taper off automatically when there are no empty tankers available to take on any more oil. OPEC could preserve semblance of control if it shut off the spigots today. It needs to create a spot shortage here and there in order to get a price boost. Talking cuts doesn't cut it. Tulvio