Tamas Varga

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Last quote by Tamas Varga

The API statistics are helping the market recover, but the underlying sentiment is still bearish.feedback
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May 03 2017 OPEC
Tamas Varga has been quoted 21 times. The two most recent articles where Tamas Varga has been quoted are U.S. crude slumps below $50 after stocks build and Oil extends losses as gasoline weighs down prices. Most recently, Tamas Varga was quoted as having said, “The market went into a meltdown yesterday. The risk is now tilted to the downside. Lower numbers are not a foregone conclusion yet, but bears are in control.”.
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Tamas Varga quotes

If we draw a line and add up the stance of these countries, we have to conclude that a meaningful deal is only a distant possibility.feedback

Hopes have been running high about the potential bullish impact of the planned OPEC/non-OPEC production freeze but it is hard to see how sticking to the January output level would be supportive for oil prices. There will be no re-balancing this year.feedback

Oil prices are up due to the Chinese reserve ratio requirement cut and reports on a dropping oil production.feedback

The underlying fundamentals are still bearish and the market is reacting this morning.feedback

The draw in distillate stocks is bullish, but we know there was cold weather in the United States in the last week, so I would say the reason behind the draw has something to do with the cold winter weather and, as such, the impact should be short-lived.feedback

There is no fundamental justification whatsoever to think that the current downtrend is changing. All one has to do is look this month's report from the IEA to see that, especially the first half of this year, the market is going to be oversupplied.feedback

It seems to be a healthy upside correction in an otherwise downtrending market.feedback

It is the Chinese stock market sell-off and the strong dollar that are pressuring oil.feedback

When the Saudis are cutting prices, the markets are not going to go higher.feedback

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