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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?


To: JoeDi1213 who wrote (50812)9/10/1999 1:08:00 AM
From: Tomas  Respond to of 95453
 
Financial Times, Friday: "Oil demand in South Korea rose more than 10 per cent in the first four months, while global oil demand outside the former Soviet Union was up an estimated 1.3m barrels a day or 2 per cent during the first half, according to the World Bank."

Demand up as much as 1.3m barrels during the first half (and Former Soviet Union down 0.2).
Take a look at EIA's international petroleum demand outlook, published this week:
eia.doe.gov

In the new Short-Term Energy Outlook they also say:
"EIA estimates that world oil demand will grow by about 1.1 million barrels per day in 1999", see:
eia.doe.gov

The estimated +1.1m in 1999 is probably not enough, the number has to be revised.



To: JoeDi1213 who wrote (50812)9/10/1999 8:25:00 AM
From: BigBull  Read Replies (1) | Respond to of 95453
 
JoeDi, "The LOOP reported that shipments in Sept. will be down 8% from Aug."

Does this mean that crude stocks will decline a corresponding 8%? That sounds like a heavy decline of about 5 to 6 million barrels a week. I must not be understanding this. That sounds like a pretty stiff draw.

If it means $30 bbl I like it! <g>

Please enlighten poor old ignoramus Bull. Thanks so much for your great posts.

Bull