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

To: BigBull who wrote (45165)	5/20/1999 7:22:00 PM
From: DEER HUNTER	Respond to of 95453

Thursday May 20, 6:22 pm Eastern Time Kuwait strongly denies dumping oil on U.S. market KUWAIT, May 20 (Reuters) - Kuwait on Thursday strongly denied charges by small U.S. producers of dumping cheap oil into the United States. Oil Minister Sheikh Saud Nasser al-Sabah ''flatly denied ...that Kuwait is among the alleged countries accused of dumping its crude in the U.S. market with the aim of depressing prices in the U.S.,'' said an official statement sent to Reuters. The minister also noted in his statement that Kuwaiti oil exports to the U.S. were only a small portion of the country's output, stressing the tiny Gulf Arab state was a key advocate for a cut in global oil production to boost sagging prices. A group of U.S. independent oil producers have said they will petition the U.S. International Trade Commission later this month to investigate alleged crude oil dumping by Mexico, Venezuela, Iraq and Kuwait. The Latin American producers have already denied and protested the accusation. Sheikh Saud said that in line with three global cuts accords, Kuwait had decreased its output by a total of 369,000 barrels per day since March 1998. Under the last accord in March 1999, OPEC member Kuwait now produces at a daily quota of 1.836 million barrels. Its main customers are in the Indian subcontinent, Far East and Europe.

To: BigBull who wrote (45165)	5/20/1999 7:37:00 PM
From: Wowzer	Respond to of 95453

Thanks BigBull, I get so caught up in the tick by tick movements that I sometimes forget why I am in the oil patch to begin with. Thanks for reminding me. At least I still have my core position of stocks that I started accumulating in Feb. The only major change to date was my sell of RIG today and replacing it with CAM. My majors now consist of CAM, BHI and HAL. Oh yea and I did sell 3/4 of my position of UTI at 12, not my smartest move to date. I do keep a good chunk of my portfolio for trading purposes though. I admit I am addicted, isn't that the first step? Whenever I get the over riding desire to sell everything and put my money in a mattress, I bring up this post and remind my self that I was planning to hold for 2 years, not 3 months...... exchange2000.com Rory