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

To: Platter who wrote (35944)	1/27/1999 12:24:00 PM
From: A. Geiche	Read Replies (2) \| Respond to of 95453

Platter, how come CBS shows the February crude at steady 11.81 all day today (down 27), while March heating oil, gasoline, NG are all up and keep changing substantially?

To: Platter who wrote (35944)	1/27/1999 12:28:00 PM
From: Crimson Ghost	Respond to of 95453

Finally some potentially very good news for OS investors. Saudis may be willing to cut soon. And from the horse's mouth no less. The following is from the Iranian web site. A source that few Americans follow I suspect. thr 030 opec cuts-cges market analyst proposes opec cut to bolster prices london, jan. 27, irna - a further cut of 1 million barrels per day by opec would push the average price of benchmark brent oil up to 15 dollars per barrel by the end of the year, according to the center for global energy studies. but doing nothing, it suggested, rates would stay at around 11 dpb and with weaker demand, even averaging only 9 dpb. in its latest monthly report, the center, headed by former saudi oil minister zaki yamani, believed that saudi arabia may be amenable to an across-the-board cut, but only if other opec members deliver on their pledges. although it suggested that in the current economic climate, saudi arabia's real objective is to preserve its market share, it said that the planned visit by u.s. energy secretary bill richardson could alter its policy. "rumour has it the kingdom will be urged to bolster prices," cges said. its view was that the modest recovery in oil prices since december would only be a temporary respite because fundamentals were still too weak to stage a sustained rally. the price scenarios put forward was that rates would remain relatively flat at around 11 dpb for brent crude for most of 1999, rising by only 1 dpb in the fourth quarter. this would be with opec output staying around 27 mbpd. with weaker demand growth of just 1 per cent, the monthly report suggested that prices could continue to decline to less than 9 dpb by the end of the year. in comparison, if opec cut a further 1 mbpd from its current level with effect from the second quarter, brent would rise to 13.2 dpb in the third quarter and to 15.3 dpb in the fourth, yielding an annual average of 12.7 dpb, it said. hc/ks end ::irna 27/01/99 14:45