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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: Bald Eagle who wrote (1285)	3/8/1999 5:03:00 PM
From: Elmer Flugum	Respond to of 2282

Chap by the name of Maxwell, from some petroleum institute was on CNBC just prior to market close. he seems to think that oil may climb to about $15-16 a barrel in coming months and then retest $13 later. He says he does not believe we will see $10 oil again and that it will take a year to a year and one half to work through this oil glut. His reasons stated were basically politics. Venezuela is in an election and the this will put the Venezuelans to observe OPEC quotas. OPEC meets later in the month. Also, the Economist as as it's cover article the "Oil Glut" economist.com