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To: Mike from La. who wrote (39635)	3/11/1999 12:17:00 PM
From: SargeK	Read Replies (2) \| Respond to of 95453

My msg # 39574 Extract: ""The proposal which is not yet finalized is for an OPEC, non-OPEC cut of about 2.3 million bpd," a delegate to the one-day talks on Wednesday in Saudi Arabia told Reuters, adding that the exact division of cuts among producers was yet to be worked out. The delegate said that the plan includes a proposal for OPEC members Saudi Arabia, Kuwait, United Arab Emirates, Qatar and non-Arab Iran along with non-OPEC Oman sharing a 300,000 bpd cut to resolve a dispute with Tehran over its baseline production level to facilitate the wider two million bpd cut." A 2.3m reduction or anything close to it, will send prices up quickly. A 'source' indicated an agreement may be worked out in Amsterdam - prior to the big meeting." K

To: Mike from La. who wrote (39635)	3/11/1999 12:26:00 PM
From: SliderOnTheBlack	Respond to of 95453

Traders - WARNING: SLB HAL BHI all now down ! 3 amigos lead the parade up & down; Mike 300K is from direct report from CNBC. Also, confirmed through a private net source fwiw... We are getting a bit of a hype job here imho - NOT, that OPEC could not agree to 1 to 2 Million in additional cuts - but, I think we are overdone here - again; 300K today and ''stipulations'' hung on further cuts - such as Oil Prices themselves and compliance are great news longterm - make no doubt about that; but bad news near term.... There is NOT - ''ANY" agreement for 1-2 Million in cuts as we speak - lots of hype imho. I see traders taking our legs out from us - if we do not get 1 Million + immediately with no strings attached. I think these clowns will see the surge in crude prices here and NOT cut - just the 300K and pledged compliance... The ultimate ''Squabble'' is now set up.... these guys need binding arbitration with a Teamsters union rep <VBG> ! one from Chicago - I know a few....