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To: upanddown who wrote (35864)1/26/1999 4:30:00 PM
From: Crimson Ghost  Respond to of 95453
 
Many here seem to forget that the Saudi Arabian and Kuwait regimes are 100% US puppets. They would not last a day without US protection and support. They will do wahtever we tell them to do re: oil production levels. US government policy is the prime reason that OPEC has been unable to agree on production cuts Perhaps the Energy Secretary's forthcoming visit to the region foreshadows a change?

But never doubt that if the powers that be really want higher oil prices, these will soon be forthcoming regardless of the state of Asian demand.



To: upanddown who wrote (35864)1/26/1999 4:36:00 PM
From: Platter  Respond to of 95453
 
John, agreed, but those "knowledgeable" oil traders pay attention to what OPEC does, I guess a hangover from the 70's and 80's...So they trade based on what OPEC does or doesn't do.


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