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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Big Dog who started this subject3/13/2003 10:24:40 AM
From: Big Dog  Read Replies (1) of 206191
 
As reported by Pritchard Capital:

Saudi Arabia, the world's No. 1 oil producer, in recent weeks has chartered a fleet of supertankers to hurry nearly 1 million
barrels per day more oil across the Atlantic Ocean to the U.S., according to an article in the US News and World Report. But
the armada to the United States, which has ratcheted Saudi production close to capacity, hasn't dampened oil prices here nor
quelled concern over the economic impact of war with Iraq. Analysts view the leasing spree as unprecedented in recent years.
Even though state-run Saudi Aramco owns one of the world's largest supertanker fleets, in the last month it has leased
enough ships to carry an extra 950,000 barrels per day. That's the most the Saudis have chartered in four years and a 240
percent increase over 2002, according to Roy Mason, of Oil Movements, an England-based consultancy.
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