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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: CharlieChina who wrote (41627)	9/10/2000 11:25:13 AM
From: John Hunt	Read Replies (1) \| Respond to of 62347

Background factors that will impact oil company stocks Five reasons why OPEC's 800,000 barrel per day production increase may have only a short term effect, at least until the world economy slows down... (China) Oil imports nearly double, exports fall 11.7% in first half [ China imported 32.14 million tons of crude oil in the first half of 2000, which is more than it imported in the first 10 months of last year, according to the Aug. 24 Zhongguo Wuzi Bao (China Materials News). The country imported 4.51 million tons of oil in January, 5.82 million tons in February, 6.79 million tons in March, 5.6 million tons in April, 4.25 million tons in May and 5.44 million tons in June. ] chinaonline.com *** Japan gets nervous; will boost oil stocks [ The government will raise the country's petroleum stockpile to 345.95 million barrels from 314.5 million barrels for the first hike in 14 years, government officials said Saturday. ] pub3.ezboard.com * [ A school of thought is emerging in the oil world that regardless of what pledges might be made in Vienna this weekend, no new OPEC production is coming to market any time soon. There simply aren't enough extra tankers available to get significantly more oil from the Persian Gulf -- where Saudi Arabia and others could pump more oil -- to consumers in the United States, Europe and Japan, analysts said yesterday. "The tanker market is fairly close to capacity," said Julian Lee, an analyst at the Centre for Global Energy Studies in London. "There doesn't appear to be a lot of spare tankers around to move the stuff to market." ] ottawacitizen.com * I do not have a link handy, but I understand that additional Saudi production likely will not be sweet crude. Rather it will have a higher sulphur content and there is allegedly a shortage of refinery capacity available to handle this type of oil. * There is a lag time of up to 3 months from when the production is increased to the time it is available to consumers in North America, due to tanker transit, refinery processing and pipline times. This means the oil will only be reaching the consumer in mid-winter. *** IMHO, all this indicates that short-term trading profits will continue to be better on the long side, once the initial reaction to this news is history. Also, it's perhaps time to think about long johns, some extra insulation and new caulking around the windows. < vbg > John