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

To: VLAD who wrote (27064)	8/5/1998 8:57:00 AM
From: j g cordes	Respond to of 95453

In my opinion the Saudi's don't want to turn down the spigot, they have better plans. If they cut back now it will stabilize prices and maintain a fair proportion of worldwide drilling and exploration momentum. If, on the other hand, they keep production up it will force prices to continue to fall to where they gain market share while continuing to profit becasue they are the lowest priced producer. Only then will they have effectively captured political and production based market controls that they have direct command over.