San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1924-04-06
IN |
!. CRUDE PR|C6
|NC0AST POOP
Miranda District Expee|
to Benefit by Advanc|
Made by Humble. |
SECOND IN MON
Producers Take II as
Election Of Attitude /,
Buyers in Market.

An unexpected Increase IN
posted price of Gulf Coastal
oils early in the week served I'd
impetus to drilling activity throud
this section Of the country and
further added to the optimistic
ing being expressed by OPERATOR
erywhere.
The Humble Oil and Refining
pany again started the ball I'd
when effective with the opening d
crude oil market, on Tuesday,
l revised schedule was annod
by the company. The new incl
Of 20 cents a barrel posted BY
company on both grades Of cd
crude oil brings the price of d
"A" crude up to 81 while Gradel
commands $1.70 a barrel.
Following the Humbles' lead
larger purchasers including the
Pipe Line company and the q
Company Immediately increased
postings to conform with the
price.
Advance IN Louisiana Too.
In meeting the new price, the q
Company also added 20 cents Il
price of Jennings and Vinton 81
in southern Louisiana which ars|
chased by that company.
The increase in price is the ID
to be made within the last month
clearly reflects the. favorable q
ton Of the crude oil market att
time. At the close of the weel
mors were prevalent that an incl
in price would be made for Mid
and other Webb county crudes VI
a few days.
In the North Texas did
premiums above the posted prid
spot crude have been greatly red
in the past two weeks as a resu
independent refiners curtailing
daily runs along with a temporal
emulation of stocks on the md
The large quantity of flush. prI
ton coming from Archer county 1
major factor in this weakening d
situation.
The new Wilmot- Wilson pod
this county is now producing
oil than present pipe line fac1
can care for and some producerI
waving all bonuses heretofore 4
for their spot oil in order to get|
line connection.
Mid. Continent Quiet.
In the Mid-Continent the situ|
shows little change over the
week. Demand for oil in that
ton is still holding up but the|
not so big rush to get the d
was the case several weeks bal
However, the month Of Apt
getting under way with indica|
that before May has been reached
Oklahoma and Kansas crude oils
received an increased demand vi
possible increase in price.
weather in many sections Of the
die West, Northwest and upper 81
west is supplanting the rain,
and snow of the past three week.
if this continues for n few dayl
refined oil market will be quid
respond to the increase consum|
of motor fuel and this in turn|
react favorably upon tthe crude|
Queer.
Expect Better Market.
Close observers of the situatid
this part of the country are al
unanimous in stating that the pr|
slowing up in the crude market
react later on in a very bene|
manner, both to producers and
finers.
Production in the various fields
another upward jump during
week with the result that the
average output shows an incren|
30, 900 barrels. The daily averaa
the seven days was 1927 ,595 bd
as compared with 1888, OBJ bal
according to figures compiled By
Oil Weekly.
The largest increase for the GU
week came from California where
duction has jumped approxim
10000 barrels day over last /