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: jim_p who wrote (80476)	12/1/2000 12:05:09 AM
From: Nello Filippone	Read Replies (1) of 95453

<<Fellow Merrill Lynch analyst Steven Pfeifer added that there were concerns over "the possibility of a large, unreported inventory build in China." >> I think that Chinese are much smarter than filling their reserve with $30+ crude, thats if China even has a National reserve that needs to be filled. They may have found the 200 million missing barrels from 1998. I think that the next weeks API's will show the reality that we are not adding to inventory and if not for the injection of 20Mb from the SPR we would easily have crude levels in the 270 level! ________________10/24/00_______11/24/00 SPR_____________573.5Mb_________554Mb_____(19.5)Mb Crude___________285.6___________290.1______4.5 Gasoline________192.2___________191.2_____(1.0) Heating Oil_____46.0_____________48.9______2.9 Increase in crude/product from 10/24 6.4Mb The clincher is going to be Natural Gas, we currently are at the same levels of inventory that we were last year at the end of December, forget the fact that we had a warmer than usual winter. The only thing I regret is that Bill Richardson is not going to be around January 20, 2001 when Natural Gas inventory levels are around the 1700 level and NG is selling for $8.00. Do you think he would try blaming the Canadians for sending cold fronts south of the border? ...Can't wait till RIG's conference call at 12:00 tomorrow, there will be plenty of good news no doubt Energy is the place to be ...... Nello

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