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

To: RBlatch who wrote (40567)	3/22/1999 11:50:00 AM
From: Douglas V. Fant	Read Replies (3) \| Respond to of 95453

RBlatch, Exactly the point I've been trying to make- 500mm barrels in storage is not that much oil in a world economy that uses 75mm bbls/day- about a seven day supply. Point being that looking at oil in storage is a complete "bogey" for determining market conditions. Look instead at projected annual GNP growth rates for countries since oil usage tracks GNP growth rates pretty much on a 1:1 ratio., and also current oil production data... Sincerely, Doug F.