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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (2657)	10/11/2001 7:26:10 AM
From: TheBusDriver	Read Replies (1) \| Respond to of 36161

Got this off my companies intranet site: LONDON: Saudis cut Nov Term crude volumes to Europe The Saudi Arabia Oil Co (Saudi Aramco), has told lifters in Europe that their November-loading term crude volumes will be around 20%-25% less than the total contract, a trade source said. The source said quite large cuts had been expected for November crude allocations, because a Sept. 1 output cut by OPEC had largely been ignored. "We were expecting the cuts to be quite shocking because the Sept. 1 OPEC cut went unfulfilled," said a trader with a European lifter of Saudi crude. Aramco left October-loading term crude volumes for Europe, South Africa and the U.S. West Coast unchanged from September volumes. Earlier Thursday, Aramco notified Asian buyers of a 17% cut in their November-loading crude supplies, industry sources said. Rig Count (10/05/01) Current Year Ago Rotary US 1141 1035 Canada 316 356 (10/01) Int'l 766 714 ------------------------------------------------------------ Workover US 1246 1034 Canada 345 344