Fadel Gheit
Fadel Gheit
bad capacity events hurricane offset situation spare stretched
There isn't enough spare refining capacity around to offset these unpredictable events, ... We were stretched before the hurricane; the hurricane made a bad situation worse.
beginning believe car door gasoline guarantee hits low next oil pay per pool prices truly
I truly believe that oil prices have been artificially low for so long that we're now beginning to pay the real price, ... But if gasoline hits $6 per gallon, I guarantee you'll car pool with your next door neighbor, even if he smells.
market moves perception
It's market perception that moves the market, and the perception is negative,
driven normal rise sharp
It's a normal pullback after a sharp rise that was driven more by speculation than fundamentals.
bad freaky good news next quarter
This is a very very freaky market. The the bad news is this was a very bad quarter. The good news is next quarter is going to be better.
good stay
They're on the right track, they're doing a good job, stay tuned. As long as we have $60-plus oil, I think they're all going to do well.
alter expecting exporting hussein iraq lift panicked people position pressure producing pull saddam sanctions stop stopped supply threatened traders trick trying weeks
A lot of people were expecting that Saddam Hussein would pull a trick before year-end because he was trying to put pressure on the U.N. to lift sanctions or try to alter the position of the sanction, so he threatened two weeks ago to stop exporting oil, ... The traders panicked in anticipation of a supply shortage, but Iraq never stopped producing oil.
change changes demand oil perception president prices situation speeches supply talk trying underlying
Also, the president is making speeches trying to talk oil prices down and say the situation is better, but talk won't change the underlying fundamentals. Demand is still strong, supply is still tight. So even if perception changes for a bit, the situation is no different.
believe buy downside given greater lack lower oil potential prices risk spare strong supply tight upside
We reiterate our buy rating, as we believe the upside potential is greater than the downside risk from sharply lower oil prices given the strong demand, tight supply and lack of spare capacity.
barrels environment exporter increase investment iraq largest million next oil production year
With the right investment environment and under the right government, Iraq could increase production by a million barrels a day every year for the next 10 years, ... It could be the largest oil exporter in the world, eclipsing Saudi Arabia.
iran prices resolved unless until
Until and unless the stalemate with Iran is resolved one way or the other, I think we're going to see prices higher.
concerned delicate major people supply
We're still in a delicate balance, with people still concerned about a major supply disruption.
comment saying send source
What he's saying makes a lot of sense. Unfortunately, the source of the comment is going to send jitters in the market.
cake earnings prices unless
Unless (energy) prices collapse, earnings in 2006 will make 2005 look like a cake walk.