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

To: isopatch who wrote (85303)	1/24/2001 11:44:25 PM
From: Tomas	Read Replies (1) \| Respond to of 95453

Window on the world The Scotsman, January 23 BY SUSAN NELSON CRUDE oil comes in many different varieties and grades. Specific gravity and sulphur content are the key qualities. A sweet oil is defined as having a sulphur content of less than 0.5 per cent, while an oil containing more than 0.5 per cent by weight is defined as sour. Although sales volumes of Brent oil from the North Sea are quite small, Brent is generally accepted as the world's benchmark and is used to price two-thirds of the world's internationally-traded crude oil supplies. The non-OPEC countries tend to consume their own oil, so that 60 per cent of the oil traded internationally comes from the OPEC countries. Saudi Arabia is not only the world's major oil producer, she is also the country with most (known) reserves. The United States is the second biggest oil producer, but tenth in the reserves stakes. Hence the US cannot sustain her present levels of output for long.