Mike Wittner - Société Générale

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Last quote by Mike Wittner

That tug of war in the mind of the market is bullish OPEC cuts, bearish U.S. recovery. That's still the market driver.feedback
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Apr 19 2017 OPEC
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: “The bottom line is imports edging lower and exports edging higher. That's all positive for crude, not to mention crude runs. This is what's going to turn the U.S. crude stocks situation around. Net imports and crude runs going up. ... Imports on their own should be edging down and exports should be increasing. Put the two together. I think it's pretty positive. It's constructive.” in the article U.S. exporting more and more oil, taking a bite out of OPEC market share.
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Mike Wittner quotes

What refining margins are telling us is there might be some weakness in product demand. I think some of the fears out there are a bit overblown. If I look at product inventories, yeah, they're high, but they've been high for months. Maybe markets are waking up to it. It's not like we've taken a sudden turn for the worse.feedback

I think there's a soft floor at around $40. It's possible it could go lower.feedback

Not much of anything has really changed since Doha. I think it would be hard for Iran and the Saudis to get along, and with prices the way they are, I don't see that they have much incentive.feedback

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.feedback

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.feedback

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