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.

Gas prices have gone up, but so have crude oil prices.

Gasoline supply and prices are driving things. The fall in crude stocks was a big surprise.

Gas is still taking a lot of direction from the crude market.

For nearly five straight weeks, the EIA stock report has now surprised the market with inventory numbers on the upside. As a result, prices for crude especially will revert to the lower numbers seen in December.

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.

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.

It's difficult for me to envision (the OPEC offer) having too much of an impact. Crude inventories here in the U.S. are looking pretty good.

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

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.

As long as crude oil is still up in the high $50s, gasoline at the retail pump can't come down too much,

That should be a negative for crude prices -- excess supply with nothing to do with it.

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.

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.

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.

By and large you had this myriad of refinery news which supported the products and pushed crude prices up.

The LOOP is incredibly important right now. If it is not up soon there will be a spillover for refineries in the Midwest, which could run out of crude quickly. This could lead to gasoline shortages in the weeks ahead.

All of the crude in the world does not turn the crude into product. It still has to be refined. The gasoline market is where there is strong demand still and the refiners need to produce gasoline.

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 market feels fairly comfortable with the crude it has at these prices. It's difficult for me to envision (the OPEC offer) having too much of an impact. Crude inventories here in the U.S. are looking pretty good.

To a large degree, it's a result of the oil market. Crude oil is approaching all-time highs here. That should support natural gas.

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.