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: papi riqui who wrote (22980)	5/28/1998 2:15:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

Asian Oil demand numbers; not as bad as first thought... from DLJ Oil Analysts: "GLOBAL OIL AND GAS 05/27/98 ÿAsia Oil Demand Watch Despite some signs of strength in Asian demand during February (please see our Asian Oil Demand Watch from April 22, 1998), markets felt a renewed bout of weakness in March. Asian oil use at the consumer level fell 6.3% in March and fell 4.1% for the quarter. The declines were led by a 14% drop in both South Korea and Thailand, and a more serous near 5% reduction in both Japan and China. India was the only major country to witness a rise in consumption. There is good reason to believe that these demand figures are being understated, particularly in China, where black market imports have apparently surged. Domestic Chinese prices are much higher than those at the international level, creating an incentive to dodge newly placed import tariffs by smuggling in product without reporting it to the customs authorities. We continue to believe that growth in Asian demand will be, at worst, zero, or, at best, at a modest rate of 2.5%. (2:30 PM EST) " ******************************************************** Seems we are in a period of ''selective'' buying on individual stocks - FGII, FLC, HLX look strong on decent volume - but what happened to EVI ? - closed up $2+ at end of day - drops $2+ next morning ??? I'm also surprised to see little movement in NE & DO after recent BUY ratings being issued - a sign that we are not yet quite bottomed out... hopefully no more than another 5% . Anyone attending the Investors Energy Forum in Dallas? - can any movement be expected with positive news from this particular conference ?

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