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

To: Mike from La. who wrote (37886)	2/20/1999 12:11:00 PM
From: Crimson Ghost	Read Replies (3) \| Respond to of 95453

Mike; Some here seem to forget that the Saudis are US puppets in many repects. They would never undertake to drive oil to $8 without US approval. I doubt very much the US wants to see $8 oil, but I have been wrong before. I am beginning to suspect that the key to the oil market is not so much what OPEC does next month, but the willingness of non-OPEC producers to cooperate with OPEC. In the past OPEC cuts have provided room for non-OPEC producers to hike output. If some of the big non-OPEC producers agree to cooperate with OPEC, the implications would he far more bullish than a modest OPEC cut.