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Gold/Mining/Energy : Harken Energy Corporation (HEC) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (3488)	8/29/1998 11:10:00 AM
From: Razorbak	Read Replies (1) \| Respond to of 5504

Domestic Russian Demand (2) Zeev: I'm not arguing that we will continue to see supply-side pressure in the near future from Asia overall. I'm only disagreeing with your contention that domestic Russian consumption was stabilizing. According to the US Government's Energy Information Administration... <<After reaching 4.9 million bbl/d (MMBD) in 1990, Russian net oil exports fell before bottoming out at 3.2 MMBD during 1993 - 1995. Net oil exports have since increased to 3.5 MMBD in 1997, an increase of 0.2 MMBD from 1996 levels. This turnaround occurred despite continued production declines in Russia, because oil consumption fell even faster than production. Russian oil production declined from 7.0 MMBD in 1993 to 6.1 MMBD in 1997, while consumption declined from 3.8 MMBD to 2.6 MMBD during the same period.>> I don't call a 31% decline in four years "stabilizing". <vbg> Razor eia.doe.gov