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

To: Rustee who wrote (41901)	4/8/1999 7:28:00 PM
From: stanley new	Read Replies (2) \| Respond to of 95453

It is a bit shocking to consider what might happen to oil prices if we have any significant disruption of supply, even for a relatively short time. Seven days supply is not much. Even minor Y2K problems will cause quite a jump in price IMO.

To: Rustee who wrote (41901)	4/9/1999 2:48:00 AM
From: upanddown	Respond to of 95453

My understanding that there is less than 7 days of worldwide oil supply. Richard, I think you may be talking apples and oranges here, possibly domestic crude and finished product stocks vs. worldwide demand. Worldwide stocks are well in excess of 7 days, probably about 30-40 days. The attached table estimates worldwide crude stocks as 2.8B barrels. Hard to get really exact figures but I think it would be reasonable to say that current WW stocks are above average for this time of year and that recent OPEC cuts are designed to reduce stocks closer to historical averages. eia.doe.gov John