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

To: TRINDY who wrote (32789)	12/13/1998 12:34:00 AM
From: Mike from La.	Read Replies (2) \| Respond to of 95453

My guess is that that was not Saudi's original intention, but if other countries, both OPEC and non-OPEC want to try to increase market share during this low price period, that Saudi is willing to shift its strategy into an all out price war, because it knows it will ultimately win. There are reports that the Saudis are inviting oil companies in to develop their production. I don't think the Saudi's want to go this way, but they will if they are pushed, and the overproducers are pushing them very hard. It may still turn out to be a game of chicken, we'll have to wait and see. I think that the big oil companies are positioning themselves so that they can hang on if the war goes all the way. Mike from La.