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

To: Crimson Ghost who wrote (34860)	1/12/1999 10:48:00 AM
From: Richard D	Read Replies (1) \| Respond to of 95453

Is there a chance that refiners have accelerated their purchase and utilization of crude oil after seeing the BIG draw last week? It's possible in that scenario to have another draw this week which would allay fears that last week's numbers were a fluke related to year end storage strategies. The perception of relative shortage leads to greater shortage, and before you know it, you have a trend. That old Groucho saying, "I wouldn't want to join a club that would have me as a member," may have some bearing here. No one wants oil when no one wants oil; everyone wants oil when everyone wants oil. We may be getting closer to that latter situation. Of course the end user and producer ultimately decide the supply-demand ratio, but even that seems to be turning our direction. Richard