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

To: SliderOnTheBlack who wrote (44241)	5/7/1999 12:48:00 AM
From: Now Shes Blonde	Respond to of 95453

Yes it is excellent. Thank you. 5/4/99 is most recent for Oil Patch Weekly. Type HAL to find it.

To: SliderOnTheBlack who wrote (44241)	5/7/1999 8:59:00 AM
From: Think4Yourself	Respond to of 95453

I honestly believe the direction of oil stocks will be more determined by the API and EIA numbers than anything else for the next few months. Driving won't get heavy until school gets out (mid June). The OPEC leaders are in an unusual situation. Most of the world thinks they are impotent. They have recently experienced social unrest due to the low oil prices. They saw the effect of coming to an agreement (oil shot up). They also saw the implications of not complying (oil dropped like a rock just on comments from Venezuala, and also on hints from Shell that OPEC will cheat). Oil stocks are nearly at maximum, so a small excess of production will wipe out demand (at the moment). So, they get 50% more a barrel if they produce 10% less. There is always the incentive to cheat. EVERYONE is watching. What do they do? Some will be stupid enough to try cheating, but I believe the rest will put heavy pressure on them to get their act together.