To: SAM-DAN who wrote (1927 ) 7/6/1998 10:55:00 PM From: SnakeInATuxedo Respond to of 3817
Hey SAM... the cheating has started already, just as I said it would... here's Dow Jones' take... << Crude oil futures dropped Monday at the New York Mercantile Exchange amid accusations that Iraq and Venezuela are not holding to production cuts OPEC agreed on last month. Luis Giusti, president of Venezuela's state-owned oil monopoly Petroleos De Venezuela SA, said Monday that Iran was exporting more than 200,000 barrels a day over reduced export levels that Tehran had agreed to in March. In March, oil producers agreed to cut production by 1.245 million barrels a day. OPEC agreed in June to cut production by another 1.4 million barrels a day on top of the cuts agreed to in March to support still-weak oil prices. However, the market sobered up to the prospect that OPEC cuts, if implemented, wouldn't have an impact on swelling inventories for another month, at least. Crude oil futures were also pressured by a forecast for another 200,000-barrel-a-day rise in Iraqi oil exports by the newsletter Middle East Economic Survey and a postponed Venezuelan oil workers' strike. Oil workers at Petroleos De Venezuela postponed a sympathy strike indefinitely, despite the ongoing strike of PDVSA petrochemical workers. Some 14,000 petchem workers struck last Thursday over contractual demands. At that time, the oil workers union said that it would stage a sympathy strike if the dispute wasn't resolved by Monday. (Dow Jones) >> Even NG got taken out behind the barn and brought back feet first, but it'll hold up better than crude and the products, which is why it's a must that NTAH concentrate on the gas at Matagorda. Say, we know a company that's just brought one in, don't we? Maybe they'd like a piece of another. MI isn't that far from Webb County. $^)