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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: John Pitera who wrote (107261)6/7/2001 3:39:20 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
John, the Brent discount is the normal state of affairs - it's a heavier type of crude with higher sulphur content, roughly comparable to the Saudi Arabian sludge. it's tougher to refine...when the discount disappears, it signals tightness in supplies SOMEWHERE. doesn't necessarily have to be in the US. last year non-OPEC production FELL by 4% approximately, in spite of the price rise. depletion is taking its toll...
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