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

To: Jeffrey Beckman who wrote (11236)	2/10/1998 1:41:00 PM
From: RGinPG	Read Replies (2) \| Respond to of 95453

Oil prices look to stay depressed from what I gather from this: Refinery utilization dropped again from 93.3 to 92.2%. The cut back has not yet reversed growth in product inventories. Thus, refiners will continue to reduce refining rates until stocks levels come down and they have room to store additional production. As market forces change in the coming months, it will be important to keep an eye on one more key factor: U.S. crude oil imports devided by the total of crude oil production plus imports, giving the percent imports the U.S. depends on. This week, the "import factor" is 57%. Because much of U.S. production is marginal at $20/bbl, this factor is likely to increase significantly if crude oil prices remain in the $15 range. This posted from oil-gasoline.com there's much more there.