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To: marc chatman who wrote (32032)	11/23/1998 9:18:00 AM
From: diana g	Read Replies (1) \| Respond to of 95453

hi marc, I think it's hard to know how Venezuelan election next month is impacting on their production and statements. Maybe they will move back in line after that's behind them? I agree it is certainly a big negative going into the OPEC meeting --- (on the surface at least. Who knows what ploys are in motion??? The timing of the news from the un-named 'source close to ....' raised my eyebrows.) I heard a lot of smuggled oil is coming out of Iraq through Iran by barge, being reflagged as Iranian and sold. I wonder how this is being attributed. If sold as Iranian, then how is this affecting Iranian compliance figures? And how do other producers see it? I guess we'll see how the Market takes the Venezuelan news, mixed with the Iraqi news, etc. Sometimes I think Ron is right to just ignore news and go by the charts. regards, diana