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

To: Think4Yourself who wrote (44763)	5/14/1999 1:29:00 PM
From: upanddown	Respond to of 95453

In estimating income from crude oil in its budget for this year, Indonesia set a price of $10.50 a barrel. With prices 60 percent higher at about $17 a barrel, the country could receive $7.4 billion a year from oil, compared with the budgeted amount of $4.9 billion. That assumes prices stay at $17 a barrel. ''We only need for prices to reach $11 a barrel to meet our budget. Now it is way above that level,'' said Iin. An important statement here. When OPEC's biggest basket case has its budget pressure relieved by higher prices, where is the impetus to cheat? I think the OPEC consensus is that this is really working, lets stick together. John