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

To: Platter who wrote (36307)	1/30/1999 10:34:00 AM
From: Platter	Read Replies (1) \| Respond to of 95453

Here is Friday's Petroleum report....."Crude oil futures and products advanced Friday on the New York Mercantile Exchange after Venezuela, the largest exporter of crude to the United States, said it would consider another round of oil cuts in a bid to boost prices. Crude jumped in late trading after Venezuela's new energy and mines minister, Ali Rodriguez, said his country was working with members of the Organization of Petroleum Exporting Countries and other world oil producers on another round of concerted outputcuts. Oil prices have hovered near 12-year lows for months despite producers' efforts to prop them with output cutbacks totaling more than 3 million barrels a day. Analysts have said at least an additional 1 million barrels daily must be taken off the market to have a lasting effect on prices and have noted that many producers still are exceeding quotas. Rodriguez said Venezuela should reach full compliance to cut 525,000 barrels a day in February. His statements were heartening to futures traders, who this week found solace in domestic industry reports showing sharp declines in refinery operations and smaller inventories of heating oil and unleaded gasoline as a result. The only negative to that news had been continued large crude inventories, and efforts by world oil producers to deal with that situation could have a solid effect onprices. World oil prices have fallen sharply amid a glut that has been exacerbated by sharply lower demand from Asia, Russia and parts of Latin America. (AP) --------------------CRUDE OIL-LIGHT SWEET--------------------- NYM - 1,000 bbl_dollars per bbl. CONTRACT OPEN HIGH LOW SETTLE CHANGE HIGH LOW Mar 99 12.45 12.80 12.35 12.75 +.30 20.40 11.10 Apr 99 12.50 12.82 12.44 12.79 +.30 20.79 11.35 May 99 12.58 12.94 12.54 12.86 +.28 20.79 0.01 Jun 99 12.70 13.00 12.68 12.96 +.26 20.42 11.48 Jul 99 12.80 13.07 12.80 13.07 +.24 20.40 12.20 Aug 99 13.01 13.25 12.99 13.19 +.23 20.04 12.51 Sep 99 13.09 13.33 13.08 13.31 +.22 20.33 12.72 Oct 99 13.22 13.48 13.22 13.43 +.21 20.14 12.87 Dec 99 13.52 13.75 13.47 13.69 +.19 20.34 13.14 Jan 00 13.64 13.82 13.64 13.82 +.18 19.88 13.31 Dec 00 15.05 15.05 14.96 14.96 +.07 20.10 14.65 Dec 02 16.83 16.83 16.75 16.75 -.03 21.38 13.80 Dec 03 17.37 17.37 17.29 17.29 -.03 22.00 16.95 Dec 04 17.74 17.74 17.74 17.74 -.03 19.27 17.20 Est. Sales 90256 -------------------------HEATING OIL------------------------- NYM - 42,000 gal_cents per gal CONTRACT OPEN HIGH LOW SETTLE CHANGE HIGH LOW Feb 99 32.55 33.30 32.25 33.16 +.61 58.50 31.30 Mar 99 32.80 33.65 32.60 33.42 +.61 58.81 31.70 Apr 99 33.21 34.10 33.20 33.82 +.61 59.00 32.19 May 99 34.10 34.60 33.85 34.37 +.61 54.56 32.79 Jul 99 35.70 35.97 35.60 35.97 +.61 52.90 34.39 Aug 99 36.50 36.95 36.40 36.82 +.66 50.55 35.24 Sep 99 37.40 37.85 37.40 37.72 +.71 52.00 36.14 Oct 99 38.35 38.57 38.35 38.57 +.71 52.00 37.04 Nov 99 39.20 39.42 39.15 39.42 +.66 52.44 37.94 Dec 99 39.90 40.27 39.90 40.27 +.66 52.70 38.84 Jan 00 40.50 40.77 40.50 40.77 +.56 50.75 39.44 Feb 00 40.70 40.80 40.70 40.77 +.56 50.08 39.44 Mar 00 40.60 40.80 40.57 40.57 +.56 50.60 4.05 May 00 40.40 40.40 40.22 40.22 +.66 46.00 40.22 Est. Sales 43913 --------------------------NATURAL GAS------------------------- NYM - 10,000 mm british thermal units. CONTRACT OPEN HIGH LOW SETTLE CHANGE HIGH LOW Mar 99 1.869 1.890 1.765 1.777 -.083 2.600 1.732 Apr 99 1.880 1.905 1.790 1.803 -.087 2.440 1.773 May 99 1.915 1.922 1.830 1.838 -.069 2.380 1.810 Jun 99 1.930 1.935 1.860 1.866 -.056 2.380 1.840 Jul 99 1.950 1.961 1.895 1.898 -.049 2.390 1.870 Aug 99 1.990 1.990 1.925 1.928 -.044 2.390 1.890 Sep 99 2.015 2.015 1.955 1.955 -.042 2.380 1.920 Oct 99 2.055 2.069 2.015 2.017 -.038 2.415 1.970 Nov 99 2.210 2.210 2.172 2.172 -.035 2.535 2.115 Dec 99 2.362 2.362 2.320 2.332 -.027 2.680 2.213 Jan 00 2.410 2.420 2.375 2.387 -.027 2.655 2.310 Feb 00 2.333 2.334 2.300 2.312 -.021 2.545 2.240 Mar 00 2.245 2.250 2.228 2.230 -.018 2.426 2.150 Apr 00 2.180 2.180 2.150 2.157 -.023 2.320 2.075 May 00 2.150 2.155 2.135 2.137 -.018 2.300 2.057 Jun 00 2.170 2.170 2.135 2.152 -.020 2.308 2.065 Jul 00 2.189 2.189 2.155 2.167 -.022 2.320 2.083 Aug 00 2.194 2.194 2.174 2.174 -.020 2.320 2.090 Sep 00 2.199 2.199 2.179 2.179 -.020 2.321 2.100 Oct 00 2.222 2.222 2.202 2.202 -.020 2.341 2.100 Nov 00 2.353 2.353 2.330 2.333 -.020 2.469 2.048 Dec 00 2.510 2.510 2.480 2.483 -.025 24.020 0.244 Mar 01 2.355 2.355 2.334 2.334 -.025 2.410 2.210 Jul 01 2.269 2.268 2.218 2.218 -.028 2.291 2.095 Jan 02 2.631 2.631 2.593 2.593 -.028 2.631 2.450 Feb 02 2.515 2.515 2.487 2.487 -.028 2.515 2.487 Est. Sales 67482 ------------------------UNLEADED GAS-------------------------- NYM - 42,000 gal_cents per gal CONTRACT OPEN HIGH LOW SETTLE CHANGE HIGH LOW Feb 99 36.06 37.10 36.06 36.88 +.82 52.75 33.55 Mar 99 37.20 38.45 37.20 38.35 +1.14 52.30 35.00 Apr 99 40.15 41.15 40.15 41.13 +.92 55.00 38.35 May 99 41.40 42.20 41.25 42.03 +.82 55.83 39.41 Jun 99 42.00 42.63 41.85 42.63 +.77 54.70 40.44 Jul 99 42.45 43.00 42.35 42.98 +.72 52.60 40.61 Est. Sales 43748