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

To: Douglas V. Fant who wrote (24146)	6/15/1998 3:29:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

Doug, we talk all the time about OPEC over-production and their lack of discipline. There are some unsavory member countries and I guess they are an easy target. What about the 60% of world production outside OPEC ? Are GOM platforms reducing production ? Has the pipeline flow from Prudhoe to Valdez been reduced ? Are the Brits slowing production in their share of the North Sea ? I understand that production reductions in western economies are not accompanied by press releases and that OPEC's collusive tactics are illegal under U.S. law but I wonder whether non-OPEC producers (other than Norway and Mexico) are also not facing market realities. If storage in Cushing is overflowing, I assume it is full of patch oil and not OPEC oil. Would appreciate your take on this. TIA, John