Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: tdl4138 who wrote (43360)	4/27/1999 2:27:00 PM
From: pz	of 95453

From today's O&G Journal Excerpts: Despite a recent sharp rebound in oil prices, the damage done from last year's slump will continue to hobble U.S. oil production through 2000. That's the gist of the IPAA supply and demand committee's latest short term forecast. The committee predicts a 7.8% drop in U.S. crude oil ouput to 5.75 million b/d in 1999 and a further 1.7% decline in 2000-the lowest U.S. level in more than 50 years...... -A strong economy and normal weather are expected to hike U.S. energy consumption 2.8%.........and a further 1.4% in 2000. -Total U.S. demand for petroleum products will climb by 1.9% in 1999, paced by residential and commercial use growth, and by a further 2.1% in 2000........ -U.S. oil imports will continue their climb, rising 3.1% in 1999 and 3.2% in 2000 when they will have reached 57% of demand........

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