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

To: diana g who wrote (42543)	4/18/1999 7:50:00 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

Diana: I agree thst OPEC (and more importantly, the US) does not want crude going to the moon and will hike output if necessary to prevent it. But the difference between $18 brent and $21 brent probably is 25% or more on the OSX. So the precise target does make a difference. Also important to remember that spare production capacity is rather modest today. So if demand really takes off, crude could see $25+ even if the producers go all out. Not an immediate prospect, but could be a reality 2-3 years down the road. Now imagine what the OSX would do if all prices take off with global production at 100% of capacity. Wasn't it Slider who quoted a wise oil sage as saying that "$10 oil guarantees $25 oil."