Fadel Gheit
Fadel Gheit
bring current declines demand high hope increase influenced inventory level levels perceived seen
There's hope that an increase in demand will bring down what is perceived to be current high level of inventory, ... But that has not happened. We haven't seen significant declines in inventory levels around the world. That has influenced OPEC's decision.
demand few given last preview scare
We've given them enough of a scare the last few days, a preview of things to come when demand is not strong,
demand entering huge levels lowest period sitting year
We are entering the lowest demand period of the year sitting on huge levels of inventories.
barrels cutting demand million oil per warm weather
The warm weather in the U.S. may be cutting demand for oil by 1 million barrels per day.
above cold demand gasoline home obviously oil people per run thinking
The demand for gasoline is very strong. And obviously now people are thinking ahead. And if we have a cold winter, we'll see a run up in home heating oil to above $2 per gallon,
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.
cooling demand economic expect growth oil price
Any cooling in economic growth immediately will take oil demand down so one would expect the price will come down.
continues demand economy global relatively remains seems supply
Demand continues to be relatively strong. Supply remains tight. And the global economy seems to be doing OK. As they say, no harm, no foul.
additional coming demand entering factor focused high market oil period products start summer supplies therefore
The market is therefore focused on two things: No additional supplies coming from OPEC. The other factor is that we should be entering what is a high demand period for oil products with the start of the summer season,
crude gasoline high hope hopes lower might people prices reflection
We might see some reflection on crude prices as well as gasoline prices going forward, but not by much. I hope that people do not have high hopes for much lower crude prices or gasoline prices, because that is not in the cards.
higher reflecting stocks support
These stocks are not reflecting $50 or $60 oil. They are probably reflecting $40 oil. But this is not realistic. The fundamentals support a higher price.
emotion field playing
The speculators are going to have a field day playing with emotion and rumor.
dependence economic hit inflation less oil
Our economic dependence on oil is much less than it was even 10 years ago. If inflation comes, it won't be as big a hit as it was in the '80s.
exceeded production terms volume year
Operationally they exceeded expectations in terms of production; their production volume was up significantly from year ago.