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

To: SliderOnTheBlack who wrote (39352)	3/9/1999 11:39:00 AM
From: Robert Douglas	Read Replies (1) \| Respond to of 95453

Slider, Good day to you. You wrote: But the Street and Oil futures traders are not sold yet - they are ''trading'' here on OPEC cutting - not the early positive signs of the underlying supply/demand/price fundamentals. Maybe, maybe not. While OPEC is the largest looming event out there, it is possible that the early signs of a recovery in demand are shaping up. I don't think you can discount entirely the changes in several of the emerging Asian countries during the early part of this year. Add to that the possibility that even Japan may be stirring from its doldrums, as reports have shown that household expenditures are growing at the same time producer inventories are being drawn down. The world may be awash in oil, as our friends at “The Economist” point out, but it is also being flooded with liquidity. This liquidity will surely spark a recovery in world demand for goods and services, including oil. I don't think it is farfetched to say that early signs of this are already appearing on many radar screens. They have on mine. -Robert