Jamal Qureshi
Jamal Qureshi
closer demand faces high hold imported key people political problems purchasing serious several stability supplies
We're in a world that faces serious problems with political stability in several key regions. People want to hold more supplies closer to home, and that's going to keep demand high for purchasing imported barrels.
arabia
This really comes down to what can Saudi Arabia do.
ability bit feeling pinch provide
Refiners are already going to be feeling a bit of a pinch in their ability to provide supply, and importers as well.
chinese crude flows happy impact iran iranian major oil sanctions
I think sanctions that impact oil flows from Iran are very unlikely. The Chinese are major importers of Iranian crude and they would not be too happy to see that.
again cut easy high hold management output supply
OPEC is going to have to go back to some supply management again if they are going to hold a (price) floor. It should be easy for them to manage, it's not like they have to cut a lot they will still be at high output levels.
hard incentives people price run
People are going to run as hard as they can. The price incentives are there.
covering happen people positions
People are covering their positions before the weekend. We don't know what's going to happen with Iran.
ability
We are really narrowing our ability for an import bail-out.
kerry likely petroleum
Under a Kerry administration we'd likely have a much more interventionist SPR (Strategic Petroleum Reserve) policy,
starved
Even if the refineries are OK, they could be starved of their imports.
build crude easy high huge pumping understand
We had a huge US crude build and OPEC said they're going to just keep pumping at high levels, so between the two of those it's pretty easy to understand the sell-off.
framework legal stable until
You don't know the legal framework that you are working under. You won't have that until you have a stable government.
ahead challenges national problems switch
There's some new problems and challenges ahead in the national switch to ethanol.
ahead brought easy recovery slower stuff tough
This is significantly slower than the recovery from (Hurricane) Ivan, ... The easy stuff has been brought back. ... Now the tough stuff is ahead of us.