>>"But there is a mystery in the figures. Global oil demand is
approximately 81 mb/d. With non-Opec crude production at 49.92mb/d and
Opec's at 29.26 mb/d, plus 3.51 m b/d extra for gas and other liquids,
total production is 82.8. This suggests that stocks should be building by
1.8 mb/d globally, which would noramlly be enough to see prices fall.>>
I'd be more inclined to just see the situation as one of poorly measured
data. 1.8 out of 81 is only about a 2% error. Market research of any type
is inherently akin to weather forecasting -- when I did it at IBM 12
years ago (!) a 20% error (of, say, installed LANS) was considered very
accurate.
jb
www.burgy.50megs.com
________________________________________________________________
The best thing to hit the Internet in years - Juno SpeedBand!
Surf the Web up to FIVE TIMES FASTER!
Only $14.95/ month - visit www.juno.com to sign up today!
Received on Thu Aug 12 17:32:21 2004
This archive was generated by hypermail 2.1.8 : Thu Aug 12 2004 - 17:32:21 EDT