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

To: Captain James T. Kirk who wrote (35544)	1/21/1999 11:40:00 AM
From: Mike from La.	Respond to of 95453

An analyst in the Oil and Gas Journal put out an article to the effect that if the Saudis keep oil prices where they are, they will put the higher costs produces under and be able to increase their production to 11 million bbls in two years. Puts out all kind of numbers showing how it would work. I can think of several reasons why this would not be such a good idea for the Saudis, but I wonder if it might be part of a plan to put pressure on the other OPEC countries to comply by hinting that if they don't, the Saudi's have an alternate plan, and will go for market share instead. sometimes trade journals are used for selected "leaks", have no idea if this is the case are not, but it has some of the earmarks. would be a horrifying thing if that is what happens. According to the article, any production that costs over $8 would be doomed. Help me with something. The API figures show a drop, while imports went up slightly. If you subtract the refinery usage from the total, does that mean that the drop is due to reduced production in the US? Another article said that Canadian oil production has dropped by nearly 500,000. Mike from La.