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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: dfloydr who wrote (44919)5/18/1999 11:41:00 AM
From: Think4Yourself  Read Replies (1) of 95453
 
Doomberg just rewrote that API prediction article. Two lines jumped out at me:

"''As long as there is a nickel to be made, these refiners are going to run flat out,'' said Tim Evans, an analyst at Pegasus Econometric Group in New York."

"The specter of another gasoline inventory increase pulled crude oil down, as traders anticipated lower demand from refiners in the weeks ahead."

These statements appear to contradict each other. The lower oil prices go, the more "nickels" there are to be made, thus the refiners will keep going at max or increase if they can. That implies steady or increasing demand from refiners.
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