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: Wowzer who wrote (45710)	6/1/1999 9:46:00 AM
From: ChanceIs	Read Replies (1) of 95453

Oil slides on Iraqi production increase. infoseek.com I thought that Iraq was at or near its physical (vice UN sanctioned) production limit. It appears that they are sucking a lot of water from the chat on this board. The Simmons article suggested that they were near their physical limit. Does anybody have better information?? Separately, I keep reading about refinery margins and dropping demand for crude. Isn't it the case that the world was building refineries (especially in the Pacific rim) like chip factories circa '97. Could it be the case that we have an oversupply of refineries and that the price of crude isn't heavily coupled to refinery activity?

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