David Thurtell
David Thurtell
few gulf next prices production unlikely
Gulf production is really struggling. It's very unlikely that prices are going to come significantly under $60 in the next few months.
capacity close iranian issue market oil production until
Oil production is pretty close to capacity at the moment. The market is going to be very jittery until the Iranian issue is resolved.
amount french hurricane looks production remains season strikes
It looks encouraging that some of the French strikes are ending, but the hurricane season is not over yet and a significant amount of U.S. production remains shut.
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.
extremely numbers short stocks watch
The stocks numbers are extremely bearish. You wouldn't want to be short though. You've just got to watch what's going on with Iran.
deal demand hemisphere northern prices rebound worry
The worry is that if prices come off a bit, demand will rebound and we've still got to deal with the Northern Hemisphere winter.
colder looks prices provided range send sixties
Provided we don't get any disruptions to supply, it looks like prices could have short-term weakness. But if we get a much colder winter, it could send prices into the sixties range again.
gone market oil paint scenario worst wrong
Everything's gone wrong in the oil market recently. If you wanted to paint the worst scenario picture, you couldn't do much better.
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.
further prevent price rises
(That's) the only thing that will prevent further significant price rises from here.
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.
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.
appear buying funds raise wanting
Funds appear to be buying the dips, still wanting to raise their allocation to commodities in their portfolios.