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

To: SliderOnTheBlack who wrote (39668)	3/11/1999 3:21:00 PM
From: Think4Yourself	Respond to of 95453

Just out of curiosity, who owns all the oil and products in storage?? Seems to me they are the ones to get shafted if the price of oil goes down due to a failure of OPEC to act, because their inventory value goes down.

To: SliderOnTheBlack who wrote (39668)	3/11/1999 3:33:00 PM
From: diana g	Read Replies (2) \| Respond to of 95453

Hi Slider, irt your post of the quote from Bloomberg-- Al's Opinion as reported by Bloomberg, <<''I don't think we're going much higher because a million- barrel cut is already in the price,'' said Al Zappulla, a trader at ABN Amro Inc. in New York. ">> I don't know Al, do you have confidence in his opinion for some reason? Might he not have a position himself which his statements seek to serve? Has Bloomberg been an objective reporter of Sector news? (I say no.) imho, a 'profit-taking' breather is to be expected here, but I have a very positive feeling about the Producers this time. I'm sticking. regards, diana EDIT---Also remember that these stocks don't need $20 oil to prosper.

To: SliderOnTheBlack who wrote (39668)	3/11/1999 3:33:00 PM
From: still learning	Respond to of 95453

From the Blomberg post: <<Prices could stay at current levels even if the producers agree on the 1 million to 2 million barrels in cuts traders had been expecting. ''I don't think we're going much higher because a million- barrel cut is already in the price,'' said Al Zappulla, a trader at ABN Amro Inc. in New York. ''But if someone storms out of a meeting over there, we could be down $1 (per barrel) in a heartbeat.''>> Could be, but if the cuts stick and the mkt thinks oil prices will not just bounce up and down, we may see some strong flow of new money into both OSS and E&P stocks. FWIW.