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

To: upanddown who wrote (40306)	3/18/1999 12:09:00 PM
From: JungleInvestor	Read Replies (1) \| Respond to of 95453

John, very interesting EIA chart shows they estimate demand to actually decrease worldwide by 3.2% from the first quarter 1999 to the second quarter and only rise 1.3% for the whole year (there have been many articles posted here showing many economies are recovering from very low levels of last year). What's even more incredible is that the EIA estimates worldwide supply to rise by 1.7% in 1999, while there have been so many shut-ins AND HUGE REDUCTIONS IN CAPEX BUDGETS which are going to make it very difficult to even replace the 3% of oil supply lost yearly due to depletion - much less increase supply by 1.7%!! Of course the EIA will also need to adjust their estimates for the new OPEC cuts. Look for the EIA to continually adjust their estimates (reduce supply and increase demand) throughout the year to keep up with reality.