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.

Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: JHR who wrote (7738)	3/12/1999 7:23:00 AM
From: Thean	Read Replies (1) \| Respond to of 14427

JHR, positive speculation and rumor are flying very high in Amsterdam while we slept. April crude future is now at $14.73 at this writing. If crude price shot up excessively during the trading day, maybe it would be good to remove some chip off the table before the weekend, especially if we see another no-question-asked 10% surge after open. But do keep some for further run <GG>. The emphasis from the OPEC/non-OPEC this time seems to be their decision to send a clear, credible message to the world - that they are talking reasonable numbers that they will adhere to rather than a huge number that they know members will bust. I think this is not as priced in as in the 1 - 1 1/2 million barrels cut. People would much prefer to believe the longer term improvement potential of an honest but smaller cut than a larger but dishonest cut. If Naimi and others manage to convince the press and analysts that this time they mean honesty, I would bet on more institutional money stepping up in search of value plays, which can temporarily turn the drillers into mo-mo overdrive. Norwegian partiment has also supported more production cut this time according to Bloomberg.