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

To: Gator II who wrote (25388)	7/9/1998 1:27:00 PM
From: marc chatman	Read Replies (2) \| Respond to of 95453

It makes sense to me, as a general proposition. But by holding off on purchases now, when their currencies are weak, those countries take the risk that, when their currencies recover, the price of oil could be much higher. The move in the commodity price could offset, or even more than offset, the currency move. Also, if those countries are holding off, they would presumably be running down their stocks -- which gets back to a question I asked yesterday as to whether there are any statistics on changes in foreign oil stocks.