Spencer Welch

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 Spencer Welch is associated, including North America, return, and impact. Most recently, Spencer Welch has been quoted saying: “On a daily, or a couple of days, yes, it could hit that level, but we don't expect that to be sustained because the impact on production would become significant very quickly. So whereas it wouldn't be just a case of people stopping drilling for oil in North America, it would mean that people who are currently producing would turn off some of that production so there would be a much quicker return in terms of the oil production.” in the article Oil slides below 33 dollars a barrel.

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Oil price has dropped by $2 per barrel because of fear of reduced oil demand. However, fundamentally the oil market is in the healthiest position (as far as oil producers are concerned) for more than 2 years.

On a daily, or a couple of days, yes, it could hit that level, but we don't expect that to be sustained because the impact on production would become significant very quickly. So whereas it wouldn't be just a case of people stopping drilling for oil in North America, it would mean that people who are currently producing would turn off some of that production so there would be a much quicker return in terms of the oil production.

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