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 (72072)	8/31/2000 10:25:45 AM
From: chowder	Read Replies (3) of 95453

Hello Q! I thought I'd share some information with you and the others, in hopes of getting some feed back. A friend of mine, goes by the name Bull Derrick, (I hope he doesn't mind my using his name), gave me an interesting scenario regarding the oil inventories. >> Remember that on November 1, all the gasoline must switch to Winter formula in the EPA regions, which is where 90% of the population resides. To do this, the refineries cut back on their production in September and October to run out their summer formula storage so they have room to put the new formula. Over the next six weeks, expect the refinery utilization to fall from 96% to 86%. What happens to the crude that they don't convert into gasoline? Some will be used for heating oil, but the crude oil inventory will probably back up some 20-30 million Bbl more than it is today over the next 6-8 weeks. << Some food for thought? dabum

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