Fadel Gheit
Fadel Gheit
cold prices rise
If we don't have a particularly cold winter, we won't see prices rise dramatically.
blamed cut economic half moved prices production second sure
Obviously, if they had cut production more, prices would have probably moved higher, and that would have curtailed economic growth, ... They want to make sure they will not be blamed for any economic slowdown in the second half of this year.
coast oil squeeze
Right now it's a squeeze play for oil industry, ... But if they can get by from here to February, I think the coast is clear.
company concerned depending educating flip political wind
Politicians can flip in no time, depending on where the political wind is blowing. The company is concerned and doing the right thing by educating the public.
economy economy-and-economics level losing oil shock worst
Losing the Saudi oil would immediately shock the U.S. economy to the worst level in decades,
ceos copied duplicate everybody lee raymond standard
Lee Raymond really set the standard for other CEOs in the industry. Everybody else copied Lee Raymond, but you can't duplicate what he's done.
arrive barrels carrying million tomorrow vessel
One million barrels is nothing, it's like a rounding error, ... One vessel could arrive tomorrow carrying one or two million barrels of crude.
double existing paying stock valuing
Occidental is paying more than double what its own stock is valuing its existing reserves,
extremely missed
My expectations were extremely high; we missed big time.
city companies mandatory maybe near operating preparing shut texas three
There are mandatory evacuations in the Galveston area, and most of the operating companies near Texas City are preparing to shut down completely by this Friday. They believe, at best, they will be shut down for three days, maybe as long as a week.
crude giving lack patient problem wrong
We're giving the patient the wrong medicine. The problem is not the lack of crude oil.
cannot changes hard line
Because of the changes around the world, you cannot take a very hard line and unwavering view.
bark friday home thinking
Basically, before the hurricane, they went home Friday thinking this thing is going to fizzle out, it's going to bark but it's not going to bite,
continue driving drop guarantee markets oil plenty prices serious stays supply tremendous weather
Barring any serious supply disruption, there is plenty of oil and prices could drop if the weather stays warm. But we have tremendous speculation in the markets driving prices, so there is no way to guarantee they will continue to fall.