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To: Thean who wrote (7127)	2/3/1999 6:46:00 PM
From: The Ox	Read Replies (1) \| Respond to of 14427

I agree Thean. Until there is a serious, sustained rise in oil prices, due to real progress in production cuts or a visible increase in global demand, I don't think there's any reason to place huge long positions in the patch. It is a nice trading environment though. Just don't get too bullish on the patch at this stage unless you are willing to ride out another big drop, in other words, I think it's too early to load up unless you are looking way into the future. Most forecasts call for little to no improvement in oil prices until the second half of this year and IMO that may be a little ambitious the way things look today.