Sistersville oil review. [volume] (Sistersville, W. Va.) 1896-1901, 1898-08-24
Inlr petroIeum sta,isties.

Guclpg helds during the month OF
July, show marked increase in the
strength of the statistical situation
that appears to warrant the conf
dence expressed by the producers
in the early realization of a further
substantial advance in the price OF
their product. Indeed, their conf
dence that the the price will reach
the dollar mark has already been
strengthened by an advance made
by the purchasing agencies for
credit balances, and the higher bids
on the exchanges for pipe line GER
ti6cates. The production during
July was smaller than during June,
and was considerably below the av-
erage of the first six months Of the
current year. This, in view of the
fact that development operations
have been prosecuted with unusual
vigor, is a strong feature, especially
as the deliveries have been larger.
Unless a new field or pool of con-
siderable magnitude is discovered,
the prospects are that the difference
between runs and deliveries will
continue large, as the average pro-
duction of the new wells being
brought in shows no increase and
their total output is not sufficient to
make good the increase in the pro
duction of the older wells. AS the
total stocks are now but little more
than 100000 barrels, the reduc-
ton at the rate of halfa million bar
rels per month is important, as
threatening the exhaustion of the
surplus. Opinions differ as to the
possibility of materially increasing
the production in the sections
which heretofore been relied upon
10 supply the worlds requirements
but in the event that the results 0t
development operations during the
next three months demonstrate
that the production cannot be in
creased to an extent equal to the
current requirements, then recourse
must be had to sections more re-
mote from the pipe lines and other
means Of cheap transportation
There need be no fear of an actual
scarcity of oil but recourse to other
sources of supply means increased
cost and the failure Of the other
fields to hereafter supply all re-
quirements will simply cause the
exploitation of other fields not here
totore regarded as practicable and
higher prices for the product
How this, in turn, will affect the
industry will depend upon the in
creased cost, though it is probable
that will be kept down below the
point at which it would seriously
affect our foreign trade.
The production Of what are
known as the Pennsylvania grades
of oil during the north Of July
amounted to 2,4S7,69I barrels
which shows decrease of 79,o7t
barrels as compared with the pro
nuction during June. The preduc,
ton of Ohio Oh amounted to 1896
$50 barrels, which shows an III
crease OF 2, 643 barrels. The total
production was 3,8S5,2II barrels
and the net decrease 76,453 barrels.
The deliveries of Pennsylvania oil
reached a total of 2 sos 39I barrels,
showing an increase of 1857 bar
rels. The deliveries as Ohio oil
amounted to 1,967,o9S barrels,
which show a decrease Of S. 4S6 bar
rels. The total deliveries were a.
$50, 489 barrels, and the net in
crease 12o,oeI barrels. The excess
of deliveries over receipts was 645,-
278 barrels. The stocks of Penn
sylvania oil at the close of July
amounted to II,725 $50 barrels,
there having been decrease dur
ing the month Of 1926 barrels.
The stocks of Ohio oil amounted to
18,455,642 barrels, the shrinkage
during the month amounting to
569,578 barrels. The total stocks at
the close of July amounted to 3o,-
1924 la -rels, and the decrease
during the month to 644,S73 bar
rels. The decrease in total stocks
since the beginning of the year
amounted to 3,373,2o7 barrels,
which is an average OF 4SI,SS7 bar
rels per month. and Drug
Reporter.
A stomachful of undigested food