Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Platter who wrote (38589)	3/1/1999 12:39:00 PM
From: Mike from La.	Respond to of 95453

From today's Iranian news service. Bear in mind, however, that these countries are using press releases as part of their negotiations, everything is being done for a purpose, not necessarily to convey facts. We are also seeing increased flow of "expert opinions", mainly saying no agreement. These especially need to be taken with a pound of salt. I was amused by the quotes of an "expert analysts" last week who said there would be no agreement, but thought that Venezuela was not an OPEC country, and was seemingly unaware that Venezuela was bringing itself into full compliance. 017 opec-oil-price opec needs deeper cuts, daily tehran, march 1, irna -- the organization of petroleum exporting countries (opec) is quite aware that with the end of winter and ensuing decrease in demand, oil prices will further fall to less than dlrs 10 per barrel, if no effective measure is taken by producing countries, a morning daily wrote monday. ministers from oil producing and exporting countries will most probably agree to reduce output when they meet in march, iran daily added. the relative rise in oil prices continued in world markets during the past week, it said adding that the average prices of brent and dubai crude increased by 42 and 49 cents respectively in comparison with its preceding period and reached dlrs 10.81 and dlrs 10.56 per barrel. the temporary closure of some refineries in the us for annual repairs, fire accidents in a refinery owned by shell, texaco and saudi arabia's aramco in south america and in another refinery belonging to venezuela and us sitco company in north america led to an increase in oil markets, it added. the possibility of opec output reduction by 1.2 million barrels per day also buoyed oil prices, the article said adding that although iraq continues to export 2.1 million bpd, it seems unlikely that baghdad and the un would reach a decision on extending the oil-for-food deal in may. of course the absolute halt to iraqi oil exports is unlikely, it concluded. fs/rr end ::irna 01/03/99 12:41