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.
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.
becomes charge consumers cost economic higher hit increased oil prices recovery situation stifle
Higher oil prices stifle economic growth. There becomes a situation where manufacturers will have to charge consumers more for the increased cost of fuel. The economic recovery right now is very tentative and it can't be hit with higher oil prices.
data degrees expectation high increase inventory less parts reflect rising weekly
Because the temperatures are rising as high as 60 degrees in (some parts of the region), the expectation is that weekly inventory data will show an increase to reflect less consumption.
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.
created empty foot higher iraq measures moving necessary panic plenty prepared prices reading situation stops threats
We created a panic situation by reading too much into the empty threats, and when these threats started moving prices higher in anticipation, then the U.S. put its foot down and said even if Iraq stops world export, we are prepared to take all the necessary measures to make sure there is plenty of supply.
bring oil prices suddenly weaker
We could suddenly have oversupply and weaker demand, and that will probably bring oil prices down on their own,
cold event market tight
We could see the market getting tight in the event that we have a really cold winter.
cut delicate drive oil prices production releasing subject tinker until
We could say we were releasing oil to drive prices down until they get to $25 a barrel, ... Then OPEC could say it'll cut production to keep prices up. It's a very delicate subject to tinker with.
thunder
BP is more fat. Exxon is all muscle. Exxon stole the thunder this quarter.