Frank Verrastro
Frank Verrastro
lessons taking
If he's taking lessons from Chavez, it's worrisome.
barrels gulf million missing nigeria production recover shows signs trouble
Production in the Gulf has yet to recover and the trouble in Nigeria shows no signs of easing. We are missing about 1 million barrels of output.
price
My sense is there's going be another price spike.
situations supply
Most of these supply situations are fraught with some kind of peril.
illusory means
This is illusory to me. I don't think this means anything.
against generous issue looks price purchase quality shapes terms volumes
SPR volumes are generous and the quality looks fine, so the real issue for refiners is how that prospective purchase shapes up against alternatives in terms of certainty, price and availability.
biggest capacity few gulf lack last loss mind oil output recently single spare supply threat vulnerable
The lack of spare capacity has made us vulnerable to any threat to supply over the last few years. It's important to keep in mind that the biggest single loss of oil output recently was in the Gulf of Mexico.
affects clearly dependent gathering hurricane impact impacts ivan last lines platforms prices production spike storm track
The impact on prices is really dependent on the track of the storm and how it affects production platforms and gathering lines in the Gulf. If the impacts are anything like Hurricane Ivan last year, then prices will clearly spike up.
And if there's real damage, then we're really kind of in the dumps here for awhile.