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

To: Grommit who wrote (27666)	8/13/1998 9:41:00 PM
From: SJS	Read Replies (2) \| Respond to of 95453

Hey Grommit! Is this good news? (Doubt it...but it's all in the interpretation...) __________ From CBS MarketWatch: The energy sector enjoyed a small pop higher after Saudi Arabia laid plans to cut its output of crude oil. "Oil drilling companies are going to continue to turn in good earnings because the oil companies are drilling, despite the price of oil being $12 to $13 a barrel," Cappiello said. "If Asia starts to recover anytime in 1999, the market will be anticipating it by six to eight months. "Big oil companies are able to change their mix of business," added Cappiello. "If crude is cheap, they'll make the money on the crude, and if crude is expensive they'll make the money on refining. They've always got ways to shift around. "So the bigger oil companies are probably a more conservative play here. Exxon and Royal Dutch would be my two favorites."