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

To: Think4Yourself who wrote (35976)	1/27/1999 4:32:00 PM
From: Broken_Clock	Respond to of 95453

Noesis earlybird says we haven't hit bottom yet on oil.... EIA data released today shows refining slowing down -- dropping from 14.9 million bpd to 14.16 mmbpd, or to 90% utilization in week ending January 22. If imports were constant, this decrease would have resulted in an increase in crude oil inventories of 5.18 million barrels. (If you don't refine the crude oil, it accumulates in storage). However, imports of crude oil also decreased from 8.94 to 8.4 million bpd, or a total reduction of 3.78 million for the week, which slowed down the build in inventory. Despite lower imports, crude oil stocks increased by 3.1 million,from 327.1 to 330.2 million barrels Demand for crude oil is weak and is expected to continue that way through February.