Famous Quotes & Sayings

E. B. White

OPEC is keeping it from going any higher. But we've risen on Nigeria. Nigerian crude is light, sweet crude. It tends to be in short supply.

Over the past few weeks, crude prices and gas futures have dropped and increased and dropped. Until crude oil prices start to drop significantly -- and it's hard to figure out when that's going to happen -- I don't think we're going to see gas prices dropping.

Overnight the market priced in a catastrophe, but it doesn't look like that's actually what happened - especially on the crude side,

The fact that the North Sea output problem is supporting the market really shows how tight the physical crude supply is.

Vagit Alekperov

Today, crude oil is sold at the price of the Urals brand, and in terms of quality we have been losing big money. Given the oil directly reaches the final buyer, all that money will stay in Russia.

Michael Fitzpatrick

The real dichotomy in this market is that crude inventories are very high and that could make for some violent, back-and-forth price action. For the foreseeable future, the path of least resistance remains up until there is a significant structural economic or political shift.

There is no problem with crude supply. Prices do not depend exclusively on OPEC,

Until the uncertainty regarding crude oil prices can be stabilized, it's hard to see the market going anywhere.

The refinery outages should lead to weak demand for crude oil from the refining sector. It's not crude oil that is in short supply, but gasoline and distillates.

Thurston Moore

With these reissues, listening to these tapes, it seemed very crude to me. There's no way I'd ever want to play like that again.

The issue is not the supply of crude oil. Where there is an issue is natural gas in the U.S.

A further deterioration of the situation in Nigeria, or escalation of nuclear brinkmanship with the Iranians, could push the (New York) price of crude further to 70 dollars.

I'm surprised by the drop in crude stocks and the further decline in crude oil imports,

Oil supplies are in pretty good shape. Crude oil should be a lot lower than it is. Supplies are building.

Not a drop of crude oil production has come back in the Gulf. It's going to take weeks and maybe months rather than days to get the industry back on its feet.

It's very simple. The energy market was up real strongly. That's part of it, as people consistently make the link between crude oil prices, inflation and gold.

There's still crude out there that can make up for any loss in production.

There's actually a year over year decline in crude prices.

There's not really much problem about crude oil supply. It's all about the lack of products.

There's not enough natural gas to substitute for heating oil. So this will help support crude oil prices. What we need is not (crude) oil but heating oil and natural gas. Unfortunately, there's no strategic reserves for them.

There's not a whole lot of movement in the market today. I think the crude market will watch for the two meetings this week.

This lends a positive tone to tomorrow's opening, as well as crude being down significantly today.

In the short term, the main market problem at the refining level is the shortage of product, not inputs. It's mostly a problem of product (gasoline), not crude oil.

I think now that that is digested, people are looking at some reasonable values; our view is that crude oil prices are going to remain high.

I'm not sure this is the start of a new trend in crude oil stocks and it probably reflects more of a desire on the part of refiners to limit the material they hold than it does a lack of supply,

The impact of a pop-up is relatively crude and relatively negative.

You've got an undercurrent of potential threats, in the broadest sense, to the crude supply and product supply that are going to keep markets weary. Unless there is a major surprise in oil stocks on the high side, it's going to keep prices underpinned at these higher levels.

Daniel Yergin

All the tensions and stress in the world's oil markets are flowing into the gasoline pump. The crude oil market is very tight, and a market that's this tight is vulnerable to politics, to hurricanes, to strikes and to emotions, and that's what we're seeing.

Subir Raha

The key reason for our increase in profit was global crude price volatility.

Any resolution to the gasoline problem won't occur in the short term. There's enough crude oil around. The problem is with refining and specifications.

As big as we are, we are only 3 percent of the crude oil production in the world.

Prices are where they ought to be in relation to the price of crude oil. There may be some more movement up or down, but we don't expect it to do much more than where it is now over the next month or two.

A drop in oil prices removes one of the few big negatives in regard to markets. It definitely helps sentiment seeing lower crude prices.