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

To: diana g who wrote (31048)	10/29/1998 7:30:00 AM
From: diana g	Respond to of 95453

"...And analysts say that cutting exploration and production spending will hurt big oil's earnings down the road. ..." biz.yahoo.com There's a happy thought.

To: diana g who wrote (31048)	10/29/1998 7:37:00 AM
From: diana g	Read Replies (1) \| Respond to of 95453

"Oil firms as OPEC splits on extra cuts LONDON, Oct 28 (Reuters) - Oil prices firmed on a bout of late short covering on Wednesday, as OPEC ministers gathering for talks in South Africa bickered about whether there should be further producer cuts. ... ...Algerian Oil Minister Youcef Yousfi said on arrival in Cape Town that he wanted OPEC to cut output further as soon as possible. He will line up with Kuwaiti Oil Minister Sheikh Saud Nasser al-Sabah, who says he believes OPEC has the will for further cuts to add to its 2.6 million barrels per day (bpd) of output sacrifices so far this year. Mohammad bin Hamad bin Seif al-Ramhi, oil minister for non-OPEC Oman, added his weight behind deeper output reductions. But Saudi Arabia, Venezuela and non-OPEC Mexico, the architects of this year's supply cutbacks, have all poured cold water on prospects for more reductions. OPEC kingpin Saudi Arabia dampened expectations of further action on Tuesday with its sharpest call yet for the export cartel to comply fully with supply sacrifices already promised. ..." biz.yahoo.com I like the way this meeting is shaping up.