David Thurtell
David Thurtell
disruption longer parts supply worry
There's just been too much disruption to too many parts of the whole supply chain. There's a worry that it's going to take longer to get things back.
barrels destroy good help higher increase language longer million prices recognizes short term
From his language he recognizes that while higher prices are good for revenues in the short run, longer term they help destroy demand. OPEC is probably going to increase by 1 million barrels a day.
demand high oil overall prices scheme supply vulnerable worries
There are worries about demand going forward, but in the overall scheme of things, oil prices are still exceptionally high and are still vulnerable to supply hitches.
avoid bush higher petroleum president prices releases strategic supply
The only way we can avoid yet higher prices is if President Bush releases supply from the Strategic Petroleum Reserve.
bit falling pressure rising start stocks stop suspect time
Rising U.S. (crude) stocks could put a bit of pressure on prices, but I suspect we are at the time when stocks will stop rising and will start falling soon.
caught cut expect high hurricane inventory money next normally prices saying six trying
Refiners don't want to get caught out in the next six months, with the hurricane season, Iran, etcetera. Where you'd normally expect at these high prices refiners trying to cut down on stocks, I think they're saying there's big money to be made if you've still got inventory when the hurricanes hit.
calmed literally release reserves strategic weathered
Literally and figuratively, I think we've weathered the storm, as the release of strategic reserves has calmed the market.
bit data difficult numbers overdone stocks
I think this demand-destruction idea is being a bit overdone at the moment. The stocks numbers were very bearish, but I think that it's still difficult to read through a lot of this data noise.
further prevent price rises
(That's) the only thing that will prevent further significant price rises from here.
agency atomic deal energy hopeful investors production strike
OPEC is set to keep production quotas unchanged... and investors are hopeful that the International Atomic Energy Agency will strike a deal with Iran.
agency atomic deal energy hopeful investors production strike unchanged
OPEC is set to keep production quotas unchanged ... and investors are hopeful that the International Atomic Energy Agency will strike a deal with Iran.
demand driving fuel hemisphere northern oil peak prices winter
Peak demand for winter fuel in the northern hemisphere is what is going to be driving oil prices in the fourth-quarter.
couple cut next prices range stay weak
I think we'll stay in a $58 to $66 range for the next couple of months. If prices get too weak OPEC, will just cut back.
came surprise
It was no surprise that OPEC came out and said 'no change' to supply.