Andy Lipow - Lipow Oil Associates

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Last quote by Andy Lipow

The last place that we have an excess supply of oil is actually in the U.S. and you saw week ago we exported record amounts of that oil and that trend's going to continue for the rest of this year.feedback
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Oct 13 2017 Iran
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Andy Lipow is associated, including OPEC, Nymex, and inventory. Most recently, Andy Lipow has been quoted saying: “The world simply can't afford to see that lost supply because we can't make it up from the other OPEC and non-OPEC producers.” in the article Deterioration of Iran deal could have 'meaningful impact' on oil market next year: Analyst.
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Andy Lipow quotes

Sep 06 2017 - Oil

The demand surges in advance of the storm as everyone fills up, and then they hunker down in their homes as the hurricane approaches and passes.feedback

Sep 05 2017 - Oil

What we're seeing here today is really a reversal of the activity we saw in the previous week as oil pipelines were shut down and refineries were shut down.feedback

Sep 01 2017

It's definitely going to be tight, so we're all waiting to see how much of the refinery capacity gets online. You take out a third of the refining capacity for a while, it's going to be dire.feedback

Sep 01 2017 - Oil

That's based on the fact that it's going to take two weeks to assess damage and at least two weeks to get back on stream.feedback

Sep 01 2017 - Oil

We're about to get close to 1.4 million barrels a day of refining capacity starting up imminently, if not already in the throes of starting up.feedback

Sep 01 2017 - Oil

Part of it is Dallas is supplied by a pipeline from Corpus Christi, and of course those pipelines have been down. There was a social media explosion of panic, so everyone went to the gas station. Supplies are going to be tight but they're going to get better.feedback

Aug 31 2017

The major refined product pipelines out of Houston are mostly shut because there is no gasoline and diesel to pump.feedback

Aug 30 2017

I'm expecting it to go up at least another 10 to 15 cents a gallon from where it is today.feedback

Aug 30 2017

Everything in Beaumont, Port Arthur is up in the air. They might have a major flooding event and Total's refinery in Port Arthur lost power. Corpus Christi refiners should be returning to operations in one to two weeks, while in Houston I think it's going to take two- to two-and-a-half weeks to fully recover.feedback

Aug 30 2017 - Mexico

They are now in other markets like the European market, seeking gasoline supplies. Mexico is now competing for gasoline that would have gone into New York harbor.feedback

Aug 30 2017 - Oil

Before all is said and done with, 31 percent of the nation's refining capacity is significantly affected, resulting in a reduction of crude oil processing in excess of five million barrels a day.feedback

Aug 30 2017 - Mexico

It makes a difference in price to lots of markets because Mexico has become such a large importer of gasoline from the Gulf Coast, and the U.S. Gulf Coast is shut down.feedback

Aug 30 2017

There are so many tankers that are just sitting out there waiting for the storm to clear, and for the ports to reopen. We're already seeing in Corpus Christi that it's going to take weeks to get these refineries back on line…and in Houston, we're just praying they don't get flooded.feedback

Aug 30 2017 - Oil

I'm actually quite concerned about Beaumont-Port Arthur because they just got a huge amount of rain in 24 hours, and we've already seen flooding within the refineries themselves, so we don't know exactly how bad it's going to be. If it is bad, you're looking at six to eight weeks of outages over in Beaumont-Port Arthur.feedback

Aug 29 2017 - Oil

They're making a very minimal amount of petroleum products if any at all. They can't get crude in, and the pipelines out are mostly shut.feedback

Aug 27 2017

We just simply don't know yet the damage all this rain will have on Houston's energy infrastructure.feedback

Aug 26 2017 - Oil

The biggest driver of how much this will increase gas prices is how much rain falls in Houston during the next three days. We are in a wait-and-watch mode.feedback

Aug 25 2017 - Oil

If we get rapid accumulation in 24 hours the refineries simply can't pump the water fast enough out of the location. That could lead to damage to electric pumps in refineries, potentially requiring repairs that could take weeks or months, he added.feedback

Aug 24 2017

That is because in Category 3 there is more likely to be lots of evacuations, widespread power outages, wind damage, flooding and difficulty getting workers back to the facilities.feedback

Aug 23 2017 - Oil

This is much more impact on refining especially if it becomes a flooding event. They may be forced to reduce runs if they are not able to receive oil from vessels or export their surplus product.feedback

Aug 07 2017 - Trump Presidency

There are a lot of people participating in this market that don't understand the underlying regulations. Based on the renewable fuel standard of 2017 and 2018, I expect that RIN prices are going to be drifting up during the course of 2017.feedback

Aug 01 2017 - Sanctions

The fact is that U.S. supplies are five days away from Veneuzuela, whereas these other suppliers are several weeks away. The cost would increase.feedback

Jul 19 2017 - OPEC

The report was more good news for the oil industry as inventories declined across the board for crude and products by over 10 million barrels.feedback

Jun 08 2017 - OPEC

The market is catching its breath after the inventory report which, as far as the oil market was concerned, stunk.feedback

Jun 01 2017 - OPEC

I expect we're going to see new records set over the next six months as U.S. production continues to ramp up ... OPEC has become the swing producer of the world because other producers have figured out how to lower their costs and increase their efficiency and get more oil out of the ground profitably at $50 ... OPEC needs to just grit their teeth and wait for world oil demand to soak up the oversupply. They're going everywhere, they're going to Europe. They're going to Asia.feedback

Jun 01 2017 - OPEC

What we've seen is that a lot of the increase in domestic production has been accommodated by an increase in refining capacity, making the U.S. a major gasoline and diesel supplier to world markets. U.S. refiners have added over 800,000 barrels a day of capacity since January 2015 and they're using it.feedback

May 26 2017 - Oil

The consumer is reaping the benefit. I think the national average [for gasoline] will still range between $2.40 and $2.50 a gallon, and any price increase is going to be tempered by rising U.S. crude oil production, which is set to hit an all-time record in 2018. The record being just shy of 10 million barrels a day.feedback

May 26 2017 - Oil

Gasoline demand is slightly lower than this time last year. The demand for 2017 has been a little bit slower than for 2016 but supplies are more than adequate to meet the summer's driving demand.feedback

May 26 2017 - Oil

It's only a couple cents higher nationwide than last year and really the people who are seeing the biggest increase happen to be in California, where a power outage resulted in some refinery problems.feedback

May 10 2017 - OPEC

I think they had a hard time getting this deal together, and I don't particularly think that most of the OPEC countries want to cut any more. Now they're going to cut another couple thousand [barrels]? And how are they going to divvy that up?feedback

May 04 2017 - Oil

The problem is that gasoline demand in the U.S. certainly appears to be off compared to last year, and if we don't pull gasoline inventories during the driving season, what it means is we're just turning the crude oil surplus into a petroleum products surplus.feedback

May 03 2017 - Oil

This is continuing a trend since the beginning of the year in which sales have been lower and that is casting a shadow on the market and pressuring crude oil prices.feedback

May 02 2017 - Oil

The interpretation would be that Libyan production and exports would be increasing in the next couple of months, adding to supplies in an already oversupplied market.feedback

Apr 24 2017 - Oil

When you hear retailers telling you that their demand is down you've got to be a believer.feedback

Apr 10 2017 - Oil

I think [gasoline] can go higher. It really all depends on the oil market and we're seeing risk premium.feedback

Mar 30 2017 - Oil

There's no doubt that demand is going to pick up. Seasonally, we're out of winter and we're going to go into summer driving season, and demand is going to go up. The big question on everyone's mind is are we going to see an increase in demand compared to last year.feedback

Mar 30 2017 - OPEC

I think there's going to be strength in crude oil prices because over the next couple of weeks, we're going to continue to hear rhetoric from OPEC members wanting to extend their production cuts for the balance of 2017, and I think that's going to happen. Otherwise, the market would continue to be pressured under $50, which is not what they want.feedback

Mar 29 2017 - OPEC

There are signs elsewhere that some inventories are getting liquidated, like for storage in South Africa, we're seeing oil come out. We don't see floating storage of crude oil in the North Sea so there are some signs that things may be getting better for OPEC.feedback

Mar 29 2017 - OPEC

What we're now seeing in the U.S. is refinery utilization increasing, as the maintenance season draws to a close. At the same time, there's good demand for gasoline and diesel which is helping get inventories under control. Those product inventories are less than they were this time last year.feedback

Mar 24 2017 - OPEC

If we get additional quantities of heavy Canadian crude, which is preferred by many refineries in the U.S., we might turn out to sell more quantities of [U.S.] light, sweet crude to the rest of the world.feedback

Mar 24 2017 - OPEC

We're certainly going to see more comments out of members of OPEC in the next six weeks leading into its main meeting with respect to discussing the possibility of extending production cuts through balance of 2017.feedback

Mar 08 2017 - OPEC

I think that OPEC is hoping they can wait it out so they don't have to make a decision in May to continue with production cuts, but they may be forced into that decision given the high inventories here in the U.S.feedback

Feb 24 2017 - OPEC

The big bet is that OPEC/non-OPEC complies with the cuts and inventory draws. If over the next few months inventory surveys show little in the way of confirming the cuts, back to the mid $40s we go.feedback

Feb 24 2017 - OPEC

At these price levels, the specs are more inclined to enter the oil market on the long side as they feel we just won't go below $30 as world demand keeps rising.feedback

Feb 15 2017 - Ford

[Customers are] looking at other types of crude to fill the gap left by a reduction in OPEC production, and at the same time you're seeing continuing demand in China, as world oil continues to increase. That supports the price of crude and certainly helps the producers in the Permian Basin, Eagle Ford and elsewhere. Some of it for sure is making its way out to Asia. The infrastructure continues to get built out to export more and more crude oil. Not only have we built pipelines, but we built more export terminals. The industry continues to add infrastructure to support more exports.feedback

Feb 01 2017 - U.S. National Security Adviser

If the administration makes more and more statements that the Iranians consider to be provocative, the situation might turn into renewed sanctions on Iran or Iran acting in a manner that impacts the oil market in other ways.feedback

Feb 01 2017 - OPEC

The oil price is reacting to the implementation of production cuts by OPEC And non-OPEC producers. Inventory statistics today showed products building across the board. If we're seeing not only inventories here but inventories worldwide increase there would be worldwide pressure on oil prices. It's clear it will pressure prices down but we have to see what happens with the rest of the world. You won't have to worry about running out of gas this summer.feedback

Dec 30 2016

The export markets are taking what the domestic demand doesn't need, and it's good for refiners on the Gulf Coast…from that stand point it's helping refining margins.feedback

Dec 13 2016 - NAFTA

People just don't realize how integrated we are with these two countries.feedback

Nov 25 2016

It can't be positive, because otherwise you'd show up.feedback

Nov 25 2016 - Saudi Arabia

The bottom line is they've yet to come to a deal in spite of all their optimistic pronouncements, and the heavy lifting is going to have to be done by Saudi Arabia.feedback

Nov 23 2016 - OPEC

While OPEC may announce a freeze and a cut in production at the end of November, there has been a free for all among its members to produce as much as possible since the September freeze announcement. I think that in spite of whatever agreement comes out of Vienna at the end of the month, the market will be skeptical that OPEC can bring the self-discipline to its members to actually enact a substantial production cut.feedback

Oct 26 2016

It's good news for the refiners because both gasoline and distillate inventories dropped far more than the market anticipated. That is going to help refining margins in a difficult period.feedback

Oct 20 2016

Refiners are importing less crude oil and are really just starting to draw down onshore inventory. Week in and week out we're seeing lower amounts of imports than one might expect given the amount of crude oil we're processing.feedback

Oct 12 2016 - Nigeria

This "puts OPEC in an even tougher spot because they have to cut even more production to accommodate the resumption of sales out of Libya and Nigeria.feedback

Oct 06 2016 - Iraq

I think there's a very good chance that [the deal] gets derailed. The production cuts involve countries like Iraq and the Emirates who probably are not very excited about cutting their production.feedback

Oct 06 2016

Clearly, it is inconsistent with the Saudis claim that they're going to cut production in the future, because one would think if you're going to cut production you don't have to cut your crude oil price very much.feedback

Oct 06 2016

We still have two months of rapid free-for-all.feedback

Sep 21 2016

A lot of people ran to the pump to fill up so it created demand early. With the Colonial start-up over the next five days, terminals will be getting supplies.feedback

Sep 21 2016

There's no other way to get barrels in there. It's right in the middle of the Southeast.feedback

Sep 19 2016

But it will happen and the consumers will get their gasoline.feedback

Sep 19 2016

You might have an unusual situation where people could pay more at the pump, and they'll be watching gasoline futures dropping off.feedback

Sep 19 2016

Judging from the Nymex action right now, it doesn't look like the market thinks it's going to be fixed today or tomorrow.feedback

Sep 19 2016

It's very much station by station.feedback

Sep 19 2016

Inventories will have pulled down. It will take quite a while to replenish those inventories.feedback

Sep 19 2016

It will eventually go away. The question is how long will it take to repair but it's been down 10 days already.feedback

Sep 16 2016

I'm expecting that in the Carolinas, maybe some parts of Virginia and possibly some locations in Georgia.feedback

Sep 16 2016

If it continues it could mean 15 to 20 cents.feedback

Sep 16 2016

We really don't know exactly when Colonial is going to get started back. By Sunday, you might see some brown paper bags on gas pumps.feedback

Sep 16 2016

I think certainly some of the unbranded stations will probably run out of gas.feedback

Sep 14 2016

I would just say gasoline prices are likely to fall another 5 to 10 cents a gallon over the next several weeks, and the national average should actually approach $2 and $2.05 a gallon over the next few months.feedback

Sep 08 2016

It continues to turn the crude oil surplus into a product surplus.feedback

Sep 08 2016 - OPEC

I suspect over the next few weeks we're going to see inventories recover to a certain extent, as the imports catch up. There's still plenty of oil out there. What we're seeing is the result of storm impacts on vessel shipping at the same time we still see members of OPEC to increase their oil production.feedback

Jul 13 2016

I think the big news is really in the products. That's what's driving the market down. Gasoline (supply) has been rising over the last several weeks, in the heart of the summer driving season. Good for consumers, and bad for refiners.feedback

Jul 13 2016

If you look at inventory levels, since Memorial Day, gasoline inventories have trickled on up. I expect that we're going to maintain high inventory levels throughout the summer, going into Labor Day.feedback

Apr 13 2016

They're buying time. It's going to fall off another 300,000 or 400,000 barrels a day by the end of the year.feedback

Jan 27 2016

I remain sceptical, at the end of the day, about that happening as the oil producers are looking at the other guy to cut production while maintaining their own levels.feedback

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