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


To: swamp fox who wrote (14421)3/11/1998 10:21:00 AM
From: Czechsinthemail  Respond to of 95453
 
swamp fox,
I'm not sure how to evaluate the drops in oil inventories, except that when it comes to the effect on oil prices less is more. It may mean more global oil tankers head to the U.S., and I've read some comments to that effect. Maybe more important is the rising refinery percentage of capacity rate. That, in conjunction with the decline in products, seems to indicate we're cooking at higher rather than lower levels of oil consumption.
Baird