Tom Kloza

Find all of Tom Kloza’s quotes that have been published in 25 different articles on this page. Tom Kloza’s quotes are organized by date and topic, making it easy for you to compare, for example, what Tom Kloza has said both recently, and in the past, on a variety of topics. Some of the topics Tom Kloza likes to comment on include Mexico and January. Most recently, Tom Kloza said, “This is the future. It's not what it was in the shale boom, where there was just too much production, and we had these big discounts for crude in the United States.”.

Tom Kloza quotes

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This is the future. It's not what it was in the shale boom, where there was just too much production, and we had these big discounts for crude in the United States.

We're raising our output and it has more than a parochial impact. It's not so much that it makes the U.S. inventories unwieldy. It's that it adds to the global inventory. That really is the concern in the global oil market. We tend to import the medium and heavy [grades of crude]. I'm sure most of the exports are light sweet oil.

Goldman doesn't think there's a recession, and I don't either. Our own survey of about 10,000 stations across the country shows that sales gallons were down 4.4 percent in January. Those are actual sales, and it's a cross section, ranging from big box to mom and pop. I don't disagree with the notion that gasoline demand is going to be much higher in subsequent months, and it will probably be a reasonable driving season.

We're waiting for America to drive again. I think it's new cars. I think it's an older demographic. It's gasoline that has to be cleared as you go into the spring weeks. It's almost every year you have the glut. Unfortunately, it has to be cleared away and that creates tight supplies.

You might have the oddity of gasoline prices moving higher while crude oil stays in a range. That's because there's enough refinery maintenance that there's going to be substantially less demand for crude oil from Feb. 15 to April 15. U.S refiners are going to move into turnarounds and they're going to be using less crude, a million barrels a day less. At the same time, we're going to be producing 400,000 to 500,000 more a day than what was expected. ... That's going to have an impact. That's a million and a half difference on balance. It looks like [prices] should be somewhat sluggish.

We'll see some compliance with the OPEC quotas and the non-OPEC agreement, but it will fade into the second quarter and it may not be there at all in the second half of 2017. As you see prices go up above $55 a barrel in the forward markets, you will unleash various beasts in West Texas, North Dakota and even Oklahoma called shale.

I do think we'll see [demand exceed supply] in 2017, but I think it's going to be front-end loaded.

It's going to be front-end loaded. We're going to see a spike and then we'll see prices ease from that spike. That forecast depends on no hurricane and no border tax. The border tax is a new wild card that I just don't think is going to get passed.

It's a double-edged sword. It is the big difference maker going into 2017, compared to 2016.

In the summertime, we got to where we made more than 10 million barrels a day of gasoline and manufactured more than 5 million barrels a day of distillates. That was a big deal. ... We thought you'd have 9 [million] and 4 [million] for domestic demand. If it weren't for gasoline exports – and the highest months can be December and January – we'd be looking at matching that big inventory buildup we had last January.

There will be a spike and everyone will be talking about it and it will probably be between Easter and Memorial Day.

Traders at the Gulf Coast...keep talking about the tremendous gasoline demand to move to central and South America. There's clearly a lot of demand for Gulf Coast gasoline. The difference maker is exports. I think Mexico is probably 40 to 50 percent of it.

It may be that the Saudis and other parts of the Middle East become a supplier for Latin American destinations. For now, it's a brisk export market. How will the macro economic decisions of Donald Trump impact South America? That could have a great impact on refiners here.

If it weren't for gasoline exports - and the highest months for exports can be December and January - we'd be looking to match that big inventory buildup we had last January.

I think domestic demand is incredibly lumpy. Every previous year we've been adding several hundred thousand barrels of capacity. The fact is there's about 1.9 million barrels a day of global capacity being added, most of which is in the Middle East and southeast Asia. It's not in the Western Hemisphere.

We have never exported more gasoline and distillates than we did last week. ...The total amount of exports is huge. There's no doubt about it that it's a record.

They tend to overpromise and under deliver.

We are not talking about a fuel apocalypse.

There's no question that 2017 is gonna be more expensive than 2016. But it's impossible to make a case for it to be anywhere near as expensive as, let's say, 2011, 12, 13 and 14, when we regularly saw prices go above $3.

A lot of big refineries are coming back up and will start making gasoline. Those refineries were born to run.

Even if they don't make it by Saturday noon, you miss four or five days. It's not a big deal. But it's a big deal for Colonial and people who bought in the panic in the futures market.

There's probably a sweet spot between $50 and $55, but I think we're setting ourselves up for some sort of a disappointment at the OPEC meeting. I think the language is probably going to be thoroughly bullish. They'll pay lip service to some sort of a freeze.

We're going to go higher from January to December of 2017, but I think it will be trouble about 40 days from now.

Gasoline exports are a quietly stunning story of autumn, 2015. It's been a theme this autumn and I think it's going to be a theme that continues into 2017.

It's Mexico, Mexico, Mexico and Latin America. I guarantee that's what it is.

I just don't see any way that we get a $60 average for a month within the next 12 months.

My suspicion is that the OPEC honeymoon will continue for quite a while.

The price for the next few months is going to be determined not in Vienna, but in places like Lagos, Nigeria; Tripoli; and Moscow – and maybe Midland, Texas.

This is a demand destroyer. That's the bottom line.

Crude oil is comfortable between $40 and $52 per barrel, but that range would be extraordinarily uncomfortable should there be any hint of U.S. recession. The lows are likely in October, when global refinery maintenance peaks. The highs may occur at year's end, but only if we have some early winter in the northern hemisphere.

I'm guessing it persists into next week. This weekend is going to be tough. A lot of pumps are without fuel.

Some of the people that were selling it at 40 to 50 cents over futures prices are out of fuel. It's a scramble for distributors to find fuel.

The Carolinas are ground zero at the moment. Georgia is starting to get some product.

The lack of Gulf Coast gasoline coming north has manifested itself from Alabama to Virginia, a lot less when you get to other points, like Delaware and New Jersey.

I still think there's going to be drama in the downstream market with no gasoline or ridiculous prices. Let's hope Colonial gets that pipeline restarted because we really need it.

It's still going to be a mess in most of the those states, I think through September.

There's a huge difference if you get that bypass line going tomorrow or if it stretches into next week.

I think in the impacted areas, it's going to be uneven. Some people will see it going up 20 to 25 cents.

For the moment, people might be hearing about $43 crude oil, and they'll be paying $2.15 for gasoline in a market where they paid $1.80 last week.

I still put it at 50/50 that we get to a national average of $2, but I do think the average person will be able to buy it for less than $2.

… [I]t will be interesting to see if that brings gasoline prices down.

For this time of year, since the financial crisis, with no question [it's the cheapest gasoline]. I just don't think we're going to get as low as we did last February.

When the president got sworn in, it was around an average of about $1.69.

It would be tough for me to make a case for crude oil going more than a few dollars a barrel higher than it is right now. We're still in that $42 to $50 trading range. When it gets near the lows, it's a buy.

It may get a little uglier with some European refinery shutdowns. But this is very seasonal.

But, like the New York Yankees, we may have to waddle through a long period of mediocrity and pain until things turn around.

On 'Seinfeld', they had the 'Bizarro World. Now, we're seeing the Bizarro World where gasoline, out on the West Coast is selling for under $50 a barrel, the lowest price in the country on a spot basis. It's very unusual and speaks to what happens when all refineries run at pretty high levels.

I'm pretty comfortable in predicting that crude oil prices will be much higher one year from now, two years from now, and three years from now with prices perhaps in the $50 to $75 range.

These are the cheapest gasoline prices for the end of July since 2004. There's 36 states where you see gas less than $2 a gallon. The really cheap prices will be between Labor Day and Election Day.

I think you could make the argument that you've got some weakness between now and when refiners take their equipment down because there's too much gasoline and too much diesel. That could bring crude to $39 to $40. For crude oil and gasoline, I think the bottom comes during campaign season this year.

Everyone with the $1.99 signs should have them ready for October or November.

Without a hurricane, it's a $2.25 to 2.40 driving season.

It's been a cheap year for fuel costs, and particularly for jet fuel, but also gasoline and diesel. There has been very high demand.

We saw the highest demand ever, we used something on the order of 59 million gallons a day of gasoline.

In the fall, there's no question there's going to be a challenge in the marketplace, particularly if you see production in some of the places like Nigeria and Kurdistan will ramp higher.

The question is really whether or not it's a driving season thing and what happens after Labor Day. You've got an election where people aren't very happy with the choices, and they may show that it may not be to vote with [their] feet, but to vote with [their] cars in traffic.

There's too much oil. It's that plain and simple. And [major producers] would have to cut not to freeze to really impact [the market].

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