Re: Saudis happy with $50 oil for the short term

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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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bbqdays

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Re: Saudis happy with $50 oil for the short term

in response to

Re: Saudis happy with $50 oil for the short term

BKM8572

posted on Apr 05, 2009 08:28AM

I was under the impression gasoline inventories were high, so this report was encouraging. http://tonto.eia.doe.gov/oog/info/tw... It says gasoline demand is only down 1.4% for the current 4-week average compared to last year. Crack spreads are slightly higher, and gasoline inventories are 5% lower than this time last year.

Summary: Tighter supply/demand balance, less volatility.

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