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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: trypod who wrote (5314)8/10/1998 12:06:00 AM
From: Serge Collins  Read Replies (2) of 24921
 
Very high oil inventories.

Just read a report on the oil industry that will send shivers down any oilman's spine. Inventories are currently about 343 million barrels uo from 300 million in January and could go higher without a cutback in output.

In fact there is a forecast of prices falling below $10 a barrel in late winter without a dramatic cutback. Last week's WTI official price was actually about $11.75 a barrel.

It sounds like more bad days ahead for the energy sector.
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