** A message from our President
Oil prices took a jump upward last week and now are headed back down quickly. The jump last week was short covering by the traders which has now ended. Oil will continue to go lower in the near future. I have written about supply and demand fundamentals for several years in this newsletter. United States domestic production has nearly doubled over the past five years. This has resulted in oil exporters having to find a new home for their product. Saudi Arabian, Nigerian and Algerian oil that once was sold in the United States is suddenly competing for Asian markets. Meanwhile, Canadian, Russian and Iraqi oil production and exports are rising year after year as well. There are signs, however, that production is falling in the United States and other oil producing countries due to the drop in exploration investments. The drop in production is not occurring fast enough especially with output from deep water drilling off of the coasts of the Gulf of Mexico and Canada
continuing to bring new projects online. Finally, add Iran’s oil to the equation and we can see an oil glut for some time to come.
On the demand side, the economies of Europe and developing countries are weak and vehicles are becoming more energy-efficient causing demand for fuel to lag around the world. This will not change until demand and supply equalize and which take some time to occur. The big news has been China. If you only listened to the media, you would hear that China’s oil demand is nonexistent. The fact is, China’s demand for oil has decreased to 14% growth per year, this still represents significant demand. Yes, their demand for oil is still growing at 14% per year.
It’s interesting for us to watch because our demand at our card locks and deliveries are growing. We also have also seen significant growth in lubricant sales. With prices dropping it appears to have helped many of our customers and we are really happy about that.
Thank you for your business.
James C. Mason
** NEW PRODUCT UPDATE
** Super S **
Super Trac trans fluid
TO-4 SAE 30 & 50
FEATURES & BENEFITS
* Multi-purpose lubricant designed for use in transmissions, final drives, wet brakes, and hydraulic systems
* Excellent oxidation resistance and sludge control
* Provides anti wear performance and corrosion protection for gears, hydraulic and pump components
* Controlled friction properties that minimizes chatter in wet brakes, extends clutch life, and transmission slippage control.
* Excellent performance in high load operations and also extreme temperatures
* Available in 5 gallon pails and 55 gallon drums
Masco Petroleum Warehouse
Access your fuel account 24/7
Just visit www.mascopetroleum.com
Click on “Register for a Masco Account”.
Fill out the necessary information and submit.
We will verify the account and send an approval email with a password which will allow access to the following great features:
* Transaction inquiries
* Reprint invoices
* Add or delete a driver card
* Change pin numbers for driver cards
* Lock out driver cards
* Add parameters to driver cards
110 Commerce Street
Aberdeen, WA 98520 Phone: 360-537-9744
Toll Free: 1-877-537-9744
Fax: 360-538-1559 Copyright © 2016