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: Think4Yourself who wrote (59920)	2/7/2000 11:33:00 PM
From: upanddown	Read Replies (1) of 95453

Not much talk about $20 oil and/or $2 NG anymore. In the Short-term Energy Outlook issued by DOE/EIA today, eia.doe.gov they are expecting WTI to average $25 this year and maybe dip to $22 or so in 2001. They are looking for stable NG averaging 2.47 this year and 2.54 next year. They are still way low on world oil demand. They say 74.7 for 4Q99. The IEA says it was an "extremely strong" 77.3. Strange since they get their international numbers from the IEA. I think they are still backing into demand from supply +/- stock withdrawals. Same thing that caused the infamous "missing barrels". EIA says a 1.6 worldwide shortfall in this qtr, IEA says 2-3. EIA says a .3 surplus in the 2nd qtr, IEA says 1-1.5 shortfall. There is an interesting chart on p. 19 showing the price advantage that NG should have over fuel oil as utility feedstock for most of 2000. If true, it should really spur NG usage this summer. John

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