The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1922-04-20
INDICATIONS POINT
TO PRICE INCREASE

TO PRICE INCREASE
ent in the ranks of the oil men relative
TO prediction Of quotation on the crude
oil market is showing decided change
and the consensus Of opinion at the
present time reveals that members Of
the fraternity are looking forward TO
rise in the price of crude in the
near future with a record figure in ef-
feet by the end of the present year
These predictions are not based on mere
feelings Of the perpetual optimists, but
are indicated by the present status Of
the industry, with facts and figures
in Substantiation. Chief reasons advanc.
ed for the expected rise are the slump
in the biggest areas OF production, the
constantly increasing demand and the
great amount of crude in storage and
which is constantly increasing. During
the past ii has always been a sign OF 4
coming advance when the big fellows
flled up their storage and began in.
tensiyely com betting with one another
fer the purchase OF the Oil, as is now
the case. Latest figures issued by the
American Petroleum Institute at New
York show the pipe line and domestic
crude oil stocks held in the United
States to have increased 10, 905 600 bar.
rels in March. The buyers OF crude in
all fields OF The country are engaged
in tank building campaign. meaning
thai they intend to continue their buy.
ms. They are ltalously connecting with
one another in seeking connection with
producers in rev fields.
Figures and Facts
Latest report Of the Institute on
crude oil production Of The United
States shows daily average decrease
in gross production OF 22l00 barrels for
the week ending April -, totallng l..
4l0,S50 barrels.
An important factor which is grad.
ually relieving the United States pro-
ducers Of big hindrance is the fact
that the expected drop in importation-
[ iS in evidence, the report of the insti.
/ tute showing imports OF both crude
ana refnca products for the week end
/ ing April 10 to be > $50 00j barrels.
or daily average of 4l4,3SS barrels
| for tire week ending April s
ncxplained and unexpected situa.
tons present themselves IN the oil
Industry at various periods. including
rise and fall in crude oil quotation, but
according 10 Hoyle' there is every
reason TO believe that the rise is com.
ing
"0ld Timers" Predict Rise
The most experienced and "dyedin'
the.wool' oil men are predicting the
rise. Roy NJ Johnson. one Of the pion'
GERS in southern Oklahoma oil activi-
ties. whose dope" on situations has
often "panncd OUT true to form, ex
presses the opinion that very soon an
increased quotation will be in effect
and that before the end Of the year
record price will be paid for crude.
This is the first time in the history
OF the oil business" states Mr. Johnson
that so many big fields are flushed a.
the same time Burbank. Bristow, Ly
ans Haynesvlle, Mexia-al Of thes'
monster pools reached their peak dur
ing the same period. In addition th'
Mexican imports during the first three
months OF the present year established
a record. Mexico exporting AT the rat
OF COO 900 barrels daily, with more thar
400 600 barrels coming Into the United
States. Three fourths OF the Mexican
production Is coming from a small are;
which covers approximately as man!
square miles as the city Of Ardmore. ]
is known as Totcco Cerru A2ul pool
and with is producing wells is makini
a daily output Of 100000 barrels tn
operators In that area have stoppe,
further drilling. the consensus OF opln
ion being that the field Is going e
water. as has been the case IN all q
Mexco's producing districts. II sncl
proves 10 be the case 10 Is not believe
that any other pool will take its place
This small strin has already produce
400 600 600 barrels following develop
rnent ~ about six years duration. on
wen has produced 10000 OO0 barrels.
! within a year. the price OF crud
will De higher than IL ever was II n
unusual developments occur. The d.
, mand IL increasing. The big field
J which have had their flush producuo
, are constantly dropping. and Il wi
, take some time before development !
, new areas will again bring output mp {
, the figure To which these decreasin
ur,ae brought H.
J An the fuel oil available will nc
supply more than a fraction IN compa
ison with coal which has hen used .
, fuel thus oreung demnd Tor fuel o
r which will Keep the refiuers constan
: ly busy.
X "Thc slump in crude oil Will |
IA more than one.halt million barrels Will
e In the present wear The hig compani'
3 see 1t coming. and are storing a. q O
b suit. n u were otherwise. there wou
j. oe q cut iu crude quotation
e Another Fox Well
T. ~ Nsl