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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: JZGalt who wrote (6125)	11/5/1998 2:08:00 PM
From: jas244	Read Replies (1) \| Respond to of 18928

Jzgalt, It maybe fun talking about chip stocks, but the the oil industry will be on the come back with $50.00 a barrel crude oil. Oil industry is a bargain. Opec, whose member nations provide 37% of the world oil, has committed itself to a production cut of 2.6 million barrels a day. There 's support for for a bullish oil position on the home front as well, where November oil futures have risen to $16.17 a barrel. The last three times OPEC cut production, crude prices rose between $6.00 and $ 8.00 . If Opec cuts production at their November meeting in Vienna, history would suggest that $24.00 a barrel crude is not out of the question. Although analysts can't agree on a specific target, they do agree on one thing: prices are going up. Work for Amoco, soon will be BP-Amoco, $53.9 billion deal ( the biggest industrial merger in US history) Done deal. Decembe 31, 1998