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Gold/Mining/Energy : Trico Marine Services (TMAR) -- Ignore unavailable to you. Want to Upgrade?

To: jad who wrote (842)	9/19/1998 11:58:00 AM
From: Gameboy	Read Replies (1) \| Respond to of 1153

jad, I realize that you weren't saying that Shells outlook was correct but rather simply making an observation but Shell's recent statement reflects their own internal problems as well as oil analysis that reflected weeks of research - and was equally as stale. One glance reveals which way the price of oil is headed: oilworld.com A lot has happened in the past several weeks. On June 28, OPEC announced 3 million barrel/day in production cutback quotas; by the end of July, they had implemented about 65% of the cutbacks; by the end of August, they had implement about 85% of the cutbacks; and now in the middle of September, the cutbacks are somewhere above 90%. A 4th quarter estimate from IEA is that the supply/demand deficit will run about 1.8 million barrels/day. It was ironic that Shell's announcement of no foreseen gains in oil prices would come on a day when oil gained more than 60 cents/barrel. Shell's announcement generally did put a damper on oil related stocks, although I noticed that Amoco (another industry giant) gained 1 1/8 points. Best of luck, Steve