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

To: Czechsinthemail who wrote (24628)	6/24/1998 11:29:00 AM
From: Chuzzlewit	Read Replies (2) \| Respond to of 95453

Baird, I agree. That was my premise at the beginning. All that I am arguing, in essence, is that anything that decreases the rate of depletion of current oil fields is bad for the oil service sector. I am sure that OPEC's motivations are driven by each member state's need, however derived, for cash. The key to the rebound in the sector, as I see it, is the return to health of the Asian Pacific economies. I am now convinced that the price of oil is a red herring, and that the real issue we need to watch is the rate of consumption. While the markets may seem to react to the spot price of crude, I believe it is using this simply as a surrogate for demand. Do you have a source for historic world-wide monthly crude consumption? TTFN, CTC