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Gold/Mining/Energy : Halliburton-On the rise? -- Ignore unavailable to you. Want to Upgrade?

To: Ben Beale who wrote (8)	2/18/1999 4:08:00 AM
From: Ben Beale	Read Replies (1) \| Respond to of 153

Crude Oil and Refineries (from NOESIS)- "Crude oil stocks increased by 600,000 barrels. Refining rates were just 75,000 barrels per day (bpd) higher than last week at 14,332, or 90.8 % utilization. Since crude oil imports were about the same at 8.6 million bpd, it appears that refineries operated at a steady level, despite almost full tanks of product everywhere. Gasoline production continued at a record pace, up from 7.79 to 7.9 million bpd. Inventory levels increased 5.1 million barrels to a record level of 228.2 million barrels, partially due to sustained import levels at about 477 thousand bpd. Even if imports had dropped to zero, inventories would have increased by 1.8 million barrels, which means refineries were running 257 thousand bpd above demand. FORECAST: Gasoline prices will remain low and may drop further with the price of crude oil during late February and early March. Heating oil prices will decrease through spring as refiners try to draw down inventories."