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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: ChanceIs who wrote (59557)2/2/2000 10:35:00 AM
From: SliderOnTheBlack  Read Replies (2) of 95453
 
Their knee's are weakening, but they aren't on their knee
's yet & aint kissed the OPEC ring either (VBG) !

... but, we're getting close ! ie:

2/2 10:09 CGES Analyst Drollas on API Report, Oil Supplies: Comment
By Vladimir Todres

London, Feb 2 (Bloomberg) -- The following are comments by
Leo Drollas, deputy director at the Centre for Global Energy
Studies, on a report by the American Petroleum Institute that said
U.S. crude oil inventories fell to the lowest level since August
1976.

The current level of the inventories is ``19.7 days of supply
for U.S. refineries. It's a very low level, maybe the lowest in a
decade. It was 22.5 days of supply in January 1999.
``OPEC has said many times they'd look at the level of
stocks. Let's hope they're doing that now. Until now, they have
been looking at old figures -- such as stocks in November. Things
are very tight now. I hope this news will add to evidence that
current production levels aren't enough' to meet world demand.
``You can't compare the situation in 1976 and now. In 1976,
consumption was lower. Refineries' throughput is much bigger now,
and there's simply not enough supply.'
====================================================================

...can't you just hear the panic in his voice !~
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