Bruce Evers
Bruce Evers
buy couple dips expect last meaningful people seen
I don't expect it will come down very much further. What we've seen over the last couple of years is if there's any meaningful sell-off, people buy the dips aggressively.
barrels losing nigeria oil per prices
With oil prices over 60.0 dollars, it is not necessary, particularly with Nigeria losing about 500,000 barrels per day.
affected badly beat consensus expect people
BP has been badly affected by the hurricanes. People expect BP to beat the consensus and when they come in below, people do not like it.
affected badly
BP has been badly affected by the hurricanes.
couple market prices send signal wrong
If they cut, it will send the wrong signal to the market and send prices up a couple of dollars.
anytime focus markets nigerian people plenty situation
One doesn't see the Nigerian situation getting any better anytime soon. There is plenty for people to focus on. People just don't know which way markets are going to break.
below closure consensus events impact numbers outside texas
Numbers were below consensus because they had a big impact from the hurricanes and the closure of Texas City. These were events outside their control.
affect demand maybe point prices start time
It is amazing. I still don't see where the inflection point is - the point where (oil) prices start to affect demand and growth. Maybe in two months' time we will start to see the impact.
absolutely concerned crude gasoline less market move oil supply worried yesterday
There is ample crude around. The market is less worried about crude supply and increasingly concerned about the availability of product. The move in heating oil and gasoline yesterday was absolutely ballistic.
barrels bring disruption impact line meet million minor oil per producers rising supply year
World producers need to bring another 1 1/2 million barrels per day on line every year to meet rising demand. So even a minor supply disruption is going to have a disproportionate impact on oil prices.
consume lack problem
The problem isn't a lack of crude. You don't consume crude, you consume petrol, heating oil, diesel. If you don't have the refineries to do that, then we've got a problem.
companies crude damage demand european fully higher leading moving point products replace shut stay union
Companies haven't assessed the damage fully and it may be that refineries stay shut for months. The European Union is moving crude and products to the U.S., but at some point it's going to have to replace that, leading to higher demand in a marketplace that is already very tight.
crude gasoline given incredibly mild recently stocks surprise weather
Crude stocks were broadly in-line, but distillate and gasoline were better than expected, but that was not a surprise given the incredibly mild weather recently in the States.
cold europe mild northern quite
It is very cold in Europe. The US is still quite mild but northern Europe is very cold.