OT (Oil Topic) Oil Market Rally ALERT. Very bullish API inventory report just released.

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-- Downstreamer (downstream@bigfoot.com), January 25, 2000

Answers

Downstreamer, what does this mean in plain English so us plain folk can understand? Thanks much.

-- rumdoodles (rumdoodles@yahoo.com), January 25, 2000.

API is a petroleum trade organization that monitors and reports on crude, gasoline and diesel inventories across the country on the primary storage level (meaning refineries pipelines and big terminals). They release a stat report every Tuesday afternoon. It reflects stock levles and demand for crude and products.

Bottom line: We are at the lowest stock levels ever in terms of crude, gasoline, diesel and heating oil in nationwide aggregate terms but its even more disconcerting in terms of 'days of supply'. Now we get refinery operational problems, a mega storm in the NE and an 8.3 million barrel heating oil/diesel stock draw (6%) in one week, its gonna reignite panic buying.

-- Downstreamer (downstream@bigfoot.com), January 25, 2000.


Good.......now maybe some of the third world nations that have been maniputated to give away their resources over the years will finally get a reasonable price for a change.

It's pretty sad that we whine about $30.00 per barrel oil when most of the worlds' people have a hard time making $30.00 a week.

Just a point......The USA does not have a God-given right to $20.00 per barrel oil!!

Go OPEC!!

-- Craig (craig@ccinet.ab.ca), January 25, 2000.


I just posted a brief evaluation of the stats on the above mentioned PetroBoard thread. Refineries, especially East Coast ones, are sputtering. Our gasoline and product stock levels have been in a steady slide all of '99 and now our product output rates are a big 6% lower than last year.

-- Downstreamer (downstream@bigfoot.com), January 25, 2000.

Craig, has anyone ever pointed out that you're an idiot?

-- Sluggo (sluggo@your.head), January 25, 2000.


Craig,

Keep those leeks and garlic!

You are not an honorable youth pressing up the hill of science.

FSI!,

BR

-- brother rat (rldabney@usa.net), January 25, 2000.


Sluggo......Of course you can't answer intelligently why everything should be good for the USA if if the rest of the world gets screwed by it..........

So you resort to 'idiot'

Big man!! Hiding behind your keyboard and fake name......what an asshole you are.........

-- Craig (craig@ccinet.ab.ca), January 25, 2000.


Downstreamer, not that I would wish this on anyone, but wouldn't mega storms that result in power outages mean that *less* natural gas and heating oil is being consumed?

-- Brooks (brooksbie@hotmail.com), January 25, 2000.

Brooks,

Part of the current problem as I understand it is that elctric utilities that run primarily on natural gas were forced to switch to fuel oil - not as clean and not as easy to transport. This has caused some diesel distributors to add the red die to the diesel and sell it to replace the lost heating oil.

Downstreamer,

How high do you think prices might go?

It appears to me that our OPEC friends, Saudis, Kuwaitis, and Venezuelans are unable to increase production because I do not believe that they would be unwilling to do so. Especially the Kuwaitis.

-- Bill P (porterwn@one.net), January 25, 2000.


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