Famous Quotes & Sayings

Samuel Bodman

The SPR was put in place specifically for this kind of an event, ... We now have, in some instances, problems with getting crude to some refineries.

The short-term situation in the U.S. is not good. With the refinery turnaround season, products should be tight but crude imports are higher and there is warm weather.

The surprise fall in crude stocks has helped the rally and the energy sector has keyed off that.

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.

It's possible, but that kind of reduction doesn't protect us from supply disruption. If we don't import oil from Iran, if they removed themselves from the market, it would increase crude prices regardless of where we're getting our oil.

The nice thing about Nigeria crude is its high-quality crude.

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

Scott Smith

Economic trends favor the occurrence of write-downs at other companies. Crude oil prices have been cut in half and product inventories (remain at record levels). The thing that I think is more telling is that (these companies) are taking write-downs now in anticipation that crude prices will be low for the next few years.

It's the same reasons as in the past. The price of crude oil is up significantly and there is a high demand (for gasoline), not only in the U.S., but around the world.

Jan Egeland

It is the first, crude way to get food there. It is not, however, a good way to get water and medicine distributed.

It's a refinery problem, not a shortage of crude oil. Gulf production was at 93% capacity, so it's just a matter of getting it refined and getting it up the pipeline to meet demands.

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 going to see some more downside pressure later on this afternoon. Crude is looking at another build.

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.

Vagit Alekperov

I am mainly speaking about oil refineries. It allows us to switch from retail sales of crude oil to working with our end-users.

If crude prices are near their trough, earnings should start to flatten out and move up.

If crude oil remains high, sugar prices will not be far behind.

Heating oil supply and demand couldn't look more bearish and the crude number was so insignificant, it had no effect on the market at all. Everywhere you look, we have physical supplies, and that's the overarching fundamental.

Heating oil supply and demand couldn't look more bearish ... and the crude number was so insignificant, it had no effect on the market at all. Everywhere you look, we have physical supplies, and that's the overarching fundamental.

Heating oil prices will be influenced by the weather but its price will mainly be lower this winter because of the overproduction of crude oil.

The firmer tone for crude futures should underpin the market at the open.

The first line of defense used to be drawing on stocks, and the last was price. Today, there's not enough spare crude or refining capacity. So, there's only price that's left as the defense mechanism.

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.

The geopolitical risks are still there. Because of these risks, I expect crude prices to rebound.

The economy seems to have completely absorbed high oil prices and people will be looking for steady economic growth next year. People expect a drawdown in crude oil stocks so they don't want to be short over the New Year.

The drop in crude oil was larger than expected, and that fueled buying.

The dichotomy in the US market between tight products and flush crude has become more pronounced.

The current price is much higher than it should be, since there is not a real crude oil shortage in the world market.

Michael Fitzpatrick

The current perception is that there is enough crude and heating oil around, thus the slide in prices.

The crude is available, ... If you want it, there it is.