Mike Wittner

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Last quote by Mike Wittner

Gasoline demand picked up big-time last week. On the question of gasoline demand, I'm not going to get too excited about one week. Demand numbers, in particular, can be erratic and inconsistent week-to-week.
Feb 08 2017
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 Mike Wittner is associated, including OPEC, Saudis, and market. Most recently, Mike Wittner has been quoted saying: “It's an eye-popping number, but I have no idea what to make of it. If you do the arithmetic, imports are up a million barrels a day so that's half of it. ... I'm not sure what to make of it. We'll get the real numbers [Wednesday]. For the time being, I think the floor is $50, but if we don't see the OPEC cuts translate into stock draws, and we don't get stock draws at the same time we're getting seasonally weak crude and product demand, we could see some downward pressure.” in the article Oil data key for Wednesday as 'bullish OPEC' cuts compete with 'bearish shale' production.
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Mike Wittner quotes

Oversupply still persists due to resilient U.S. production, even if declining moderately; high OPEC output, led by Saudi Arabia and Iraq; and the gradual return of Iran starting Q1 2016.

It's actually going to make it possible for the U.S. to pay less attention and actually foot less of the bill for protecting Middle Eastern oil supply and basically, in effect, say to China and other countries hey you guys are the big consumers now you guys have to step up and do your part.

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