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: Gary Burton who wrote (45000)	5/19/1999 11:06:00 AM
From: upanddown	Read Replies (2) of 95453

DOE/EIA numbers available on their web site. Crude and dist numbers are MUCH better than API.... crude +.5MMB vs +4.0MMB for API. Dist +.9MMB vs 2.1MMB for API. Gas not out yet. John Crude oil imports topped 9.0 million barrels per day (MMBD) for the first time in seven weeks, and contributed to a 0.5 million barrel (MMB) rise in crude stocks this week. Current inventory is 334.4 MMB on steady refinery input of 15.0 MMBD. Domestic crude production has fallen to a four-week average of 5.8 MMBD, over 9 percent less than a year ago, after a period of lower crude prices and declining Alaskan output.(note...this may be the most important statement. USA importing 60% of crude demand !). U.S. distillate production continued at 3.5 million barrels per day (MMBD) while demand slipped 91,000 barrels per day over the week ending May 14, allowing a stock build of 0.9 million barrels (MMB) to 128.2 MMB. All of the increase was reported as diesel, with those stocks up 4.1 MMB from last year at this time. Heating oil inventory remained even with last week at 58.7 MMB. Weather continues to be a problem in the Midwest, delaying seasonal increases in diesel demand for agriculture.

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