Slippery figures make oil price difficult to hold

Article Abstract:

The reported crude petroleum storage levels of American oil companies as of July 1999 are seven million to ten million barrels below that of inventory reporting of July 1998, and the drop may be due to under-reporting. Such a drop in inventory can affect oil prices, as lower-than-actual inventories appear to reflect a tight market. The American Petroleum Institute reports the statistics, regardless of error or under-reporting. Plains Marketing L.P. admitted to under-reporting by six million barrels.

United States, Crude Petroleum, Statistical Data Included, Practice, Petroleum industry, Petroleum, Conner, Mike

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WA braces for Asian markets shock wave

Article Abstract:

The state of Western Australia is expected to be the region hardest hit by the Asian financial crisis, with nearly $20 billion in new investments at risk. The area is heavily dependent on its liquified natural gas resource projects, which face delays or abandonment due to the slowdown in Asian economies. Steel slab production will also be affected by decreased demand.

Iron and Steel Mills, Blast furnaces and steel mills, Coke Ovens & Blast Furnaces, Energy via Dry Natural Gas, Forecasts and trends, Gas industry, Steel industry, Western Australia, Steel mills

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Dump with a twist

Article Abstract:

Issues are presented concerning the action taken by the steel shelving manufacturer Summit Storage Products following its discovery that surplus raw materials sold abroad were being imported from China as dumped products.

Economic policy, Metal products industry, Metalworking industry, Materials management, Summit Storage Products

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