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Gold/Mining/Energy : NE, Noble Drilling -- Ignore unavailable to you. Want to Upgrade?

To: Captain Jack who wrote (264)	12/17/1998 7:29:00 PM
From: Captain Jack	Respond to of 301

What next??? While the Iraqi situation caused oil futures to soar on the New York Mercantile Exchange Wednesday, those gains up to as much as $12.60 a barrel were more than erased Thursday after Mexican, Venezuelan and Saudi Arabian oil ministers meeting in Madrid failed to agree on further cuts needed to stabilize oil prices in a glutted market. In a statement, the oil ministers reaffirmed their commitment to reductions agreed upon in June 1998. Saudi Arabia will produce 725,000 barrels a day; Mexico will produce 200,000 barrels, and Venezuela will produce 525,000 a day. But they postponed further discussions on volume until other oil producers show more willingness to limit production as well, said Adrian Lajous, the head of Mexican oil firm Pemex. Saudi officials say they will consult with OPEC colleagues, while Mexico and Venezuela will initiate talks with oil producers in their region, such as Colombia and Ecuador. (AP)