Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: BigBull who wrote (44393)	5/10/1999 9:23:00 AM
From: Think4Yourself	Respond to of 95453

Unless Shell is wrong. In that case it's a double whammy to their bottom line at the end of the quarter. I wouldn't touch Shell stock with a ten foot pole knowing they are doing this in the current environment. If the EIA comes out and says "we were wrong, there were never that many barrels", Shell is screwed. If OPEC continues to comply with agreements, Shell is screwed. If the "action" in Kosovo continues or escalates, Shell is screwed. If Hussein does something stupid, ...

To: BigBull who wrote (44393)	5/10/1999 11:51:00 AM
From: Douglas V. Fant	Read Replies (3) \| Respond to of 95453

BigBUll, Corroboration- Remember four months ago when I suggested that growth in Asian demand would suffice to firm oil prices even without OPEC cuts? Well, The IEA article posted above contains one factual confirmation that my guess might at least be partly true..... Improved oil demand among industrialized countries including Japan and South Korea, saw world oil consumption outstrip supply in the first quarter of the year, even before the new supply cuts were implemented. ''Primarily as a result of a substantial upward revision to demand in the first quarter, the balances now show a global stock draw of 330,000 bpd rather than a previously-expected build of 300,000 bpd,'' the IEA said. It said South Korean demand gained over 10 percent in March and Japan recorded an unexpected rise in consumption. Global oil demand in 1999 is now projected to rise 950,000 bpd to 74.85 million.