Summary Of The Simmons & Company Oil And Gas Macro Outlook

crude anoint Summary of the Simmons & caller-out Oil and Gas big instruction Outlook Oil Simmons estimates crude oil prices to fair $24 WTI for 2000 and $21 WTI for 2001, with 1Q00 at $28, 2Q00 at $24, 3Q00 at $23 and 4Q00 at $21. For 2001, they see 1Q01 at $22, 2Q01 at $20, 3Q01 at $21 and 4Q01 fixed at $21. Their thesis, relying on inventory-price dependence, is as follows. Crude oil stocks atomic number 18 at long-term lows, with OECD inventories approach the 2,300 mmbbl range and US inventories fly off the handle up downstairs 640 mmbbl.

US motor gasoline as easy as distillates inventories ar at record lows, near below 200 and one C mmbl, respectively. Domestic enquire, however, continues to grow, with robust mogas demand at around 8.5 one thousand thousand set per day trending upwards. A full(prenominal) demand for distillates at 4.2 millon barrels per day is surprising considering the warmer-than-expected winter. fight data displays continued check inventory outperformance throughout 1999, peaking at withdrawals of 51.8 milli...If you want to get a full essay, order it on our website: Ordercustompaper.com

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