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

To: Captain James T. Kirk who wrote (30440)	10/7/1998 11:23:00 AM
From: Gameboy	Read Replies (1) \| Respond to of 95453

The DOE's agency, EIA, did report crude inventories up to 322.7 million barrels week ending Oct 2, however, the increases in estimated spot crude prices is encouraging: US: $14.37, up from 13.91 previous week (compared to $15.49 Jan 1) OPEC: $13.98, up from $12.56 previous week (compared to $14.97 Jan 1) Total World: $13.99, up from $13.28 previous week (compared to $15.36 Jan 1) Slightly lower were those producers categorized as non-OPEC: $14.01, down from $14.20 previous week (compared to $15.91 Jan 1) As oil prices moves back into the 'normal' price range, it stands to reason that would be oil producers will see a profit to be made, the rig count will rise, and eventually dayrates and utilization will rise. The week ending Jul 3, total world estimated contract prices stood at $11.00 - now at $13.99 - 3 months of OPEC production cuts have been effective. Best of luck, Steve