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: ItsAllCyclical who wrote (52867)	10/12/1999 11:56:00 PM
From: Brent Hogenson	Read Replies (2) of 95453

API's - What's going on? How can we be up 1 million barrels last week and down 7 million barrels this week? It seems like we should be drawing down 3 million barrels a week, not having these wide variances. Is somebody higher up in the food chain pulling some strings and making a killing? I normally don't believe in conspiracy theories but something just doesn't seem right. If America is using approximately 25% of the world's daily supply, it stands to reason that we should be getting 25% of the world's draw down. If demand is exceeding supply by 2 million barrels a day this quarter, API's should be down 3.5 million barrels each and every week (500,000 * 7). If the gap between supply and demand raises to 3 or 4 million barrels a day, I don't know what to say except HOW CAN IT??!! How many weeks can go by with API draw downs of 5-7 million each and every week. Drilling budgets have to be raised in a big way and soon! I can't stop thinking now is the time to buy absolutely everything you can get your hands on. Is there some flaw in my thinking? Somebody??? Anybody???

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