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

To: Robert T. Quasius who wrote (51235)9/15/1999 8:51:00 PM
From: Tomas  Respond to of 95453
 
The IEA is forecasting worldwide demand of 77 million bpd next year, leaving only three million bpd overhang in the market. Refineries are at full utilization now. Typically, about two million barrels are lost out of natural depletion, and we expect to lose three million barrels out of depletion next year. So, capacity utilization is tight and getting tighter, and capacity has not grown as fast as demand.

Quote from John Segner, Invesco Energy Fund, September 15


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