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: Evolution who wrote (49962)	8/27/1999 12:22:00 PM
From: CommanderCricket	Read Replies (2) of 95453

Let's complicate this even more. 50% plus of NA oil usage is imported from Middle East, Mexico and Venuzula (sp)'. Is Middle Eastern Crude priced per WTI or just "sweet crude". The transport costs from the Middle East must be greater than from the North Atlantic for the NA market. Anyway, I believe that the narrowing spread is relative to the tightening oil market in Europe. The arguements that the Germans are selling their reserves to prevent supply problems may be correct. BTW: I have built my portfolio with the exception of TCMS, to be somewhat independent of OPEC. Concentrated on NA E&P companies with the majority of their production devoted to NG. Regards,

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