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

To: BigBull who wrote (41531)	4/2/1999 4:36:00 PM
From: VLAD	Read Replies (1) \| Respond to of 95453

BB, As I am sure you know, the GLUT referred to crude oil inventories but even that will now change with the OPEC production cuts and the fact that domestic production has been significantly curtailed. The big problem now is the spot shortages in California after the refinery fires. We need to see refinery capacity pick up so that the crude can be processed and the crude inventories can be drawn down while crude imports decrease. This will certainly help get the demand for drilling to increase not to mention the predicted demand for natural gas.