Summary Short-Term Petroleum and Natural Gas Outlook

1/12/01


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Table of Contents

Summary Short-Term Petroleum. and Natural Gas Outlook

WTI Crude Oil Price: Base Case and 95% Confidence Interval

Real and Nominal Crude Oil Prices

OPEC Crude Oil Production 1999-2001

Total OECD Oil Stocks*

U.S. Crude Oil Inventory Outlook

U.S. Distillate Inventory Outlook

Distillate Stocks Are Important Part of East Coast Winter Supply

Retail Heating Oil and Diesel Fuel Prices

Consumer Winter Heating Costs

U.S. Total Gasoline Inventory Outlook

Retail Motor Gasoline Prices*

U.S. Propane Total Stocks

Average Weekly Propane Spot Prices

Current Natural Gas Spot Prices: Well Above the Recent Price Range

Natural Gas Spot Prices: Base Case and 95% Confidence Interval

Working Gas in Storage (Percentage Difference fron Previous 5-Year Average)

Rigs Drilling Gas Wells Are At All-Time Highs

Consumer Natural Gas Winter Heating Costs

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