OPEC

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Last quote about OPEC

Sukrit Vijayakar
Not only did the American Petroleum Institute report a crude build ... it also reported a 4.4 million barrel build in gasoline inventories, which is a massive build at this time of the year.feedback
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Apr 26 2017
OPEC has been commented on by 328 key people in the news. You can find all of them on this page with their statements. People who have been most quoted about OPEC are: John Kilduff, Helima Croft, Alexander Novak and Khalid al-Falih. For instance, the most recent quote from John Kilduff is: “We've gotten down pretty quickly to test $50 support. It's been sticky … the big number to watch is $47. If we break that we're going to go to $42 and touch the November lows.”.
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All quotes about OPEC

Mike Wittner - Société Générale

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

Gene McGillian - Tradition Energy

There's a lot of talk the [OPEC] agreement is going to be extended, but we have a full month to go before the [OPEC] talks are held. I think the real thing is without signs the production cuts are really impacting global inventories the market has trouble holding up near the upper end of the trading range. The market has a hard time sustaining itself within striking distance of the year's highs.feedback

John Kilduff - Again Capital

There was a big jump in refinery utilization. We went from 91 percent to 92.9 percent. We're approaching full capacity when you start getting up around these numbers. It's bearish for gasoline in particular, to the extent the end product value comes down and pulls down the price of oil with it. The fact we're only down a million barrels on crude in the face of the refinery run rate speaks to how well supplied we continue to be. There was a misperception out there that when the refinery runs are finally cranked back up that you'd see these crude oil inventories plummet, and that's not the case.feedback

John Kilduff - Again Capital

We've gotten down pretty quickly to test $50 support. It's been sticky … the big number to watch is $47. If we break that we're going to go to $42 and touch the November lows.feedback

John Kilduff - Again Capital

[Wednesday's] crude drawdown was not as large as expected. There was also a large jump in refinery capacity utilization ahead of the peak summer driving season. That's weighing on the perception of the [EIA] report. That's another bearish sign for oil prices.feedback

John Kilduff - Again Capital

In other words, production of these refined products is expected to rise, increasing inventories.feedback

Kemi Adeosun

I'm not sure that I agree that OPEC is the reason that we will get out of recession. We will get out of recession because we are following the right type of policies. Our objective is not just to get out of recession, our objective is to grow and grow sustainably. I'm confident that all the players involved know that we need stability.feedback

Kemi Adeosun

We very much are benefitting from the improved oil price, you know it went as low as $28 a barrel. So the region that it is in at the moment, it gives us the ability to plan. What we didn't need was volatility, we need much more stability which the OPEC deal has given us.feedback

Mohammad Sanusi Barkindo

We are giving the implementation process the top priority that it deserves because our credibility is at stake… I can tell you that we are very committed to complying fully with the voluntary decisions that we took and so far so good.feedback

Carsten Fritsch - Commerzbank

Is sentiment on the oil market now taking a negative turn again? Looking at the latest price reactions, one might conclude that the only reason for the previous price rise was the expectation of further production cuts on the part of OPEC. After all, the oil price has stopped reacting to the factors which would normally support it ever since the Saudi oil minister (Khalid) al-Falih put at least something of a dampener on such expectations.feedback

Sukrit Vijayakar

Unless the (EIA) data shows something drastically different, this report should cause a severe dent in the bullish case (for oil prices).feedback

Noman Ali - Manulife Asset Management

Energy has been a drag in Canada, mainly on concerns around increased U.S. production out of the U.S. shale names and some uncertainty around the OPEC decision in May.feedback

Alexander Kornilov - Aton

The rouble has let the (oil) companies down - the first-quarter results will be worse because of the strong rouble.feedback

Andreas Fibig

That's the reason why we went into that kind of technology. What everybody wants now in the U.S. ... is a clean label, so not too many chemicals on the label. And that's something which helps us to facilitate that market trend.feedback

Jeffrey Halley

(The) Saudi Arabian production reduction appears to be ahead of forecast and gave oil a boost.feedback

Michelle McGrade

There are some conflicting forces out there. There's OPEC and there's U.S. shale gas and oil. U.S. is making shale oil like crazy and therefore the supply is greater than demand.feedback

Michael Cohen

We're still of the view that we're going to see a sharp price rally at some point occur in this quarter, and we believe inventories continue to be drawn down.feedback

Michael Cohen

Now you're kind of placing a wedge between the key players because of this [U.S.] policy. The question is whether oil policy can be separate from economic or national security policy. I think it aligns in some places and it's a concern in other places. In history there have been many cases where OPEC countries were at each other's throats, but they were able to come to a deal.feedback

Ryan McKay - TD Securities

We're seeing encouraging inventory reports. They've been building much less.feedback

Michael Cohen

What really matters are three people – [Iranian President Hassan] Rouhani , [Saudi Deputy Crown Prince] Mohammed bin Salman and President Putin. If you figure out their positions, then you have a good idea of what's going to happen. I haven't seen a quote from any of those three lately.feedback

John Kilduff - Again Capital

You have to question whether the Syrian situation has now become a proxy that divides them more than the low oil prices united them. So that's a big deal here. The real test is going to come as we get to these warmer months and do the Saudis ramp up production to meet their internal demand. On the surface, it will look like Saudi production is spiking. These are the easy days to comply with the deal. But the hard days are coming.feedback

Michael Cohen

For the geopolitical situation you could bend bearish or bullish. When you have Iran and Saudi Arabia now in even further conflict, and also Iran and Russia in alignment on one side of the U.S. and Saudis, and Russia not seeing eye to eye on Syria, it complicates the ability of those OPEC ministers and Russia to have an amicable outcome. That could be bearish.feedback

Michael Cohen

OPEC wants to rip off the Band-Aid as soon as possible, and allow the prices to move back up to the $60 range on the force of the market alone. They realize they can't do that if the deal stays in place and they all have to comply. Eventually the compliance is going to show that certain countries are bearing more of the burdens than others.feedback

Michael Cohen

They see rig count increase in the United States and forecasts by a bunch of tight oil producers that production should be higher ... so at some point the question of whether they continue this is going to hinge on whether OPEC wants to continue seceding market share ... to non-OPEC producers.feedback

Phil Flynn

There are a few geopolitical problems at the moment. On top of that, Libya isn't producing oil, so that's adding to the bullish side of the market.feedback

Helima Croft - BC Capital

We see it grinding higher over the back half of the year, recently. . If these strikes are not followed up by a serious effort to oust the Syrian leader [Bashar Assad], none of these scenarios may materialize and the oil implications will remain negligible. However, given that President Trump had previously signaled deep disdain for humanitarian interventions and Middle Eastern military engagements, we are now in uncharted waters.feedback

Helima Croft - BC Capital

We see that 1.8 million barrel a day OPEC, Non-OPEC coordinated cut. We see them rolling that over for another six months. That's why we are constructive going into the back half of the year.feedback

Shakil Begg - Thomson Reuters

Speculation that global crude supply is tightening has led to firmer prices this week but Thomson Reuters oil research indicates actual crude shipments from Opec remain steady with exports for both February and March near levels since last November, after a seasonal dip in January.feedback

Ben Luckock - Trafigura

Contango is a very basic play. It's lazy. But I think you've seen contango has come out of the market.feedback

Jean-François Lambert

The traders picked the right time to sell. If you have an opportunity to sell assets to lighten your balance sheet without losing control then you do it.feedback

David Wech - JBC Energy

While over the next couple of months backwardation may temporarily come back ... we see a strong comeback of U.S. shale supplies joining in on many long-planned supply additions in the Atlantic Basin.feedback

Owain Johnson - CME Group

What really matters is the difference between the bid and the ask. The more you can narrow the bid/ask - the cheaper it is for companies to hedge and that makes a huge difference.feedback

Pierre Andurand - Andurand Capital Management

I think oil prices are likely to recover to around $70 … I think the market will switch to backwardation – sustainable backwardation – by late summer and that will bring the next wave in oil prices. I don't think Trump has much impact on oil supply and demand for now. If there is going to be a big change it's going to be with Iran - if he puts sanctions back on Iran.feedback

Pierre Andurand - Andurand Capital Management

U.S. shale producers have been hedging a lot of their production, capping prices, so the improvements in fundamentals were not priced in at all, but I believe that now when people will really see that inventories are going down fast, that eventually the fundamentals will win and prices will go higher.feedback

William Baruch - iiTrader

Oil prices are going to be heading lower. Right now, we're just seeing a relief rally. Oil's back above $50. … The bulls are liking it, but this newly found downtrend is going to resume.feedback

William Baruch - iiTrader

I expect to see production pick up about 100,000 barrels per day in each month going into the summer, and that's going to add quite a bit of oil, as we're already 400,000 barrels per day ahead of where we were in November when OPEC cut, at 9.1 million barrels per day right now.feedback

Gina Sanchez

The energy slump that we saw really was about natural gas, not about oil, because oil was actually doing reasonably well, and we had very a high compliance within OPEC. So everybody was reasonably positive on oil stocks, while natural gas got hit by the double whammy; they went into the winter with huge stockpiles, and then the winter was very warm, and so we had very low demand, and that's what really killed the energy sector.feedback

Carsten Fritsch - Commerzbank

I wouldn't be surprised to see some profit-taking ahead of the weekend after the strong gains in recent days. The expected rise in the U.S. rig count later today provides some arguments to sell at last.feedback

Fatih Birol - International Energy Agency

If we see the prices go up as a result of any push from the producer ...we will see more oil coming to the market, not just from the U.S.; we will also see Brazilian and Canadian oil coming to the market.feedback

Stephen Brennock

Opec is now facing the prospect of falling short of its objective. Bulging global oil stockpiles will not draw down to the five-year average unless Opec-led cuts are extended.feedback

Andy Lipow - Lipow Oil Associates

I think there's going to be strength in crude oil prices because over the next couple of weeks, we're going to continue to hear rhetoric from OPEC members wanting to extend their production cuts for the balance of 2017, and I think that's going to happen. Otherwise, the market would continue to be pressured under $50, which is not what they want.feedback

Steven DeSanctis

We think the pullback in crude oil and even natural gas has created an opportunity for energy to outperform going forward. OPEC continues to indicate that they are going to hold to production cuts and with demand and supply coming into balance in the back half of the year, oil prices should head higher. We think the infrastructure spending that the market was very excited about last year may take much longer to deliver, and thus these stocks have gotten ahead of themselves.feedback

Mike Wittner - Société Générale

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.feedback

Tom Kloza - Oil Price Information Service

I think when you look at vehicle miles traveled and you look at car sales, we had a funky start to the year.feedback

Andy Lipow - Lipow Oil Associates

There are signs elsewhere that some inventories are getting liquidated, like for storage in South Africa, we're seeing oil come out. We don't see floating storage of crude oil in the North Sea so there are some signs that things may be getting better for OPEC.feedback

Tom Kloza - Oil Price Information Service

I'm pretty confident we're going to get a run higher in crude and we're going to get a run higher in gasoline. April is going to set the tone in the second quarter.feedback

Andy Lipow - Lipow Oil Associates

What we're now seeing in the U.S. is refinery utilization increasing, as the maintenance season draws to a close. At the same time, there's good demand for gasoline and diesel which is helping get inventories under control. Those product inventories are less than they were this time last year.feedback

John Kilduff - Again Capital

It should be somewhat supportive of [U.S. oil prices] in the short run, particularly if the exports keep up. But it obviously is a challenge for the global market and a renewed threat to OPEC and their designs of keeping prices up. Certainly if it keeps up at this pace, you would think it would help the balance. But we were up again in the lower 48 states in terms of production.feedback

Tom Kloza - Oil Price Information Service

I think April will see considerably higher demand than March, if you throw in the wild card of exports as well as imports, you have enough tinder there to spark an increase in gasoline prices.feedback

Helima Croft - BC Capital

One thing OPEC has to worry about is if they don't extend the production cuts, a lot of that Permian production was hedged when oil was in the mid $50s. Even if we fall back further, that production is coming on.feedback

Andy McConn - Wood Mackenzie

The key message ... is the producers can stick to the plans they originally set out for 2017.feedback

John Kilduff - Again Capital

This is looking like a complete backfiring on OPEC and what they were trying to do.feedback

Christopher Granville

One is the OPEC production restraint deal including with Russia in late November last year, which drove the oil price up to mid-$50 a barrel or higher. And secondly and much more interestingly, hopes for a geopolitical easing of tensions between Russia and the United States, and Europe, with both the election of Donald Trump in the United States and the European mood might become less hostile to Russia, and that hope was based in particular on the prospect back then of Francois Fillon would be the most likely winner of the French Presidential election.feedback

Greg McKenna

That (Libya), along with the Iranian oil minister saying there is likely to be an extension to the production cut deal, helped crude oil rally overnight.feedback

Jeffrey Halley

OPEC and non-OPEC decided to get ahead of the game this weekend, announcing they are reviewing whether the output curb deal should be extended.feedback

Ole Hansen - Saxo Bank

OPEC has used up most of its arsenal of verbal weapons to support the market. One hundred per cent compliance by all is the only tool they have left, and on that account they are struggling.feedback

Jamie Webster

The world has gotten awfully light. It's a nice problem to have, but if you have a coker, the last thing you want is to have a stranded asset.feedback

Alan Bannister - S&P Global

Admittedly, (the current agreement came) at the cost of some member countries to reduce the amount of crude oil they can sell, but I think they will be broadly satisfied that the agreement they came to and the steps they're taking are leading to a higher price than would have been the case otherwise. We're seeing that to a point. The case for an increase in demand in emerging markets is strong, particularly with rising sales of new vehicles and two-wheelers.feedback

Michael McCarthy

The failure of the US Republican party to pass legislation repealing the universal healthcare act may come back to bite markets. The failure of the Obamacare repeal is not economically significant, but a hostile parliament threatens the positive outlook.feedback

Alexander Novak

For today, obviously, this is within the sphere of our questions. The dynamics are positive here, I believe.feedback

Jabar Ali al-Luaibi

The secretary-general of OPEC is making a comprehensive investigation, analysis, of the market ... he may recommend an extension of the declaration and this will be seen by the next OPEC meeting (in May). Any decisions taken unanimously by members of OPEC ... Iraq will be part of the decision and will not be deviating from this.feedback

Bart Melek - TD Securities

It does on the margin allow more of that heavy crude to make it to the refineries, which is a a positive, or be exported. Really we're just talking incremental here. It's not really moving the needle either way. It just assures some of the plans to expend the sands continues and we don't have to use trains. They're expensive, and it's not an efficient way to move crude.feedback

Kyle Cooper

I think the Trump administration is going to roll over the opposition groups and it will be done. This pipeline will give the Canadian sands a better net back. It's cheaper to use a pipeline than rail or truck. Their break-even just got lowered, and their economic incentive just improved. One thing you can say is that over the last 10 years, the North American E and P producer knows how to respond to economic signals. If there's a dollar to be made, they're going to get at how to make it. The Keystone pipleline will certainly give them the opportunity to make a buck.feedback

John Kilduff - Again Capital

All this additional crude oil should keep our input costs lower, which will make our refined products even more competitive.feedback

Andy Lipow - Lipow Oil Associates

If we get additional quantities of heavy Canadian crude, which is preferred by many refineries in the U.S., we might turn out to sell more quantities of [U.S.] light, sweet crude to the rest of the world.feedback

Andy Lipow - Lipow Oil Associates

We're certainly going to see more comments out of members of OPEC in the next six weeks leading into its main meeting with respect to discussing the possibility of extending production cuts through balance of 2017.feedback

Marilyn Strathern

When a measure becomes a target, it ceases to be a good measure.feedback

Ric Spooner - CMC Markets

Markets are likely to remain on hold today as traders wait on the US Congress to resolve its impasse on revision of the Obamacare legislation.feedback

Daniel Yergin

The Saudis certainly sent a very strong message that they were not going to do this alone, and they were not going to be the swing producer and make room for other exporters. It was kind of a reiteration of what has been the Saudi position. They'll play a stabilizing role but they'll not play a swing-producing role.feedback

Helima Croft - BC Capital

Everyone is focused on the U.S. … If you look outside the U.S., you look at places like Japan. We're seeing the rebalancing. The U.S. is going to be the last. Do they really want to flirt with the $30s? Is that something that's going to enhance their ability to lead in one of these petrostates? Barkindo is clearly aware of where the market is right now, and any appearances of cracks that appear in OPEC will have an effect on sentiment. He's very aware of that. I think he's going to want to generate the most positive headlines coming out of that meeting.feedback

Daniel Yergin

This is certainly going to lead to second thoughts about drilling programs for the second half of the year.feedback

Gene Marcial

Without the production cut agreement, I think you could basically target the low-to-mid $30s. I'm of the mind they extend it. The Saudis need the revenues from higher oil prices. They know that prices at $30 to $35 is trouble for them.feedback

Lukman Otunuga

The bias towards oil is turning increasingly bearish and the fading optimism over the effectiveness of Opec's supply cut deal has enticed bears to install repeated rounds of selling. Although most remain somewhat optimistic over Opec extending its six-month supply cut agreement beyond June, the resurgence of US shale coupled with concerns of some members not fully respecting the compliance in cutting production could obstruct the deal.feedback

Lukman Otunuga

WTI crude may be in store for further punishment moving forward with production in the United States rising consistently and the inflated inventories simply counteracting the efforts of OPEC to stabilize the oil markets.feedback

Carsten Fritsch - Commerzbank

A look below $50 (for Brent) is quite possible today if DoE data show a similar pattern, but it's impossible to say how far below $50.feedback

David Bailin - Citi Private Bank

The idea that we couldn't see some type of pullback in Q2 or early Q3 as you head into the summer months is kind of silly. We've seen issues on whether or not OPEC, and specifically Saudi Arabia, can in fact curtail the supply of oil.feedback

Ole Hansen - Saxo Bank

The market is increasingly worried that the continued overhang of supply is not being brought down fast enough. For Opec to extend the cuts into the second half of the year will be fraught with problems because in order to have a continued successful period of cutting, Opec needs to have non-Opec countries on board as well, especially Russia. At this stage while countries such as Russia and Iraq are not complying fully with what they agreed to, the Opec deal could fall apart.feedback

Jeremy Baker

Global demand for 2017 is expected to remain healthy and surpass long-term average growth in demand of 1.2 million barrels per day by between 0.2 and 0.4 million barrels per day. As such, the combination of robust demand and weaker global supply leading to rebalanced markets will not be de-railed by U.S. shale oil.feedback

Mohammad Barkindo - OPEC

They will more likely opt for income and will push to get help from non-OPEC.feedback

Alexander Novak

It's too early to talk about it in the middle of March, (the matter) should be discussed and a decision should be made at the end of April or in the middle of May.feedback

Khalid al-Falih

I can tell you that in the first four months we will be well above our commitment. So we committed, but we seek equal commitment by others.feedback

Matt Smith

So prices have just kind thrown in the towel in the last week. I think we'll get a bounce here in the short term today. We're seeing lower imports and a draw coming through. We're bouncing from key support now. It'll depend over the next couple of months whether OPEC implements those cuts.feedback

Abhishek Kumar - Interfax

Oil prices have come under renewed pressure after the latest OPEC report showed a rise in global crude inventory despite the cartel deciding to curtail its output.feedback

Francisco Blanch - Bank of America Merrill Lynch

The last few days have been a little bit off … but I do think the objective hasn't changed. They want to achieve higher spot prices, lower forward prices.feedback

Katherine Richard

What OPEC has shown is that it clearly cannot stomach $40 to $50 oil, whereas the U.S. producers over the past two years have gotten more and more efficient, referring to American shale drillers who rely on expensive enhanced drilling methods to squeeze oil and gas from shale rock. We've retooled our cost structure. We've become cheaper. We've become more efficient, and we can now make really good money in the core plays in the U.S. at $40 to $50 oil.feedback

Francisco Blanch - Bank of America Merrill Lynch

We just need the U.S. inventory piles that we have to come down, and again, that requires a wider WTI-Brent spread.feedback

Michael Cohen

Our view is still one that sees an agreement in some form in place and we have not really wavered from that view. The reason is based on the fact that completely taking their hand off the wheel again is not something consistent with what many OPEC leaders want.feedback

Michael Cohen

I think that Iraq production is not really coming off. They seem to be focused on exports and even the export numbers are not really coming off. I think a little bit of this is the Saudis are probably tacitly OK with the narrative that they're not going to shoulder the burden on their own. They're also concerned about non-OPEC compliance, namely Russia and they're not seeing the cuts coming through.feedback

Alexander Novak

They don't want $60 [oil] but firming the case for $50 makes sense for their key policy priorities. Are you going to pick keeping as much shale as you can on the sidelines? Or are you going to pick your key economic priorities? If it's sub $50, or $50, I think they roll this over.feedback

John Kilduff - Again Capital

That OPEC report was a bit of a shock with the Saudis self-reporting a 10 million barrel a day production number. The secondary sources had them producing under 10 million. The market reacted badly to that and the acknowledgement that global inventories were rising. The headline acknowledgement and prices sold off ... I think they're going to engineer another prices collapse, they've got to do more than that. It's got to be in everybody's face. I think the real wake-up call is when you break $35.feedback

Khalid al-Falih

Green shoots are here in the U.S. and maybe growing too fast. I am moderating the watering of green shoots.feedback

Matt Smith

It's shaping up to be another fun week in the crude complex, with OPEC releasing its monthly oil market report on Tuesday, swiftly followed by the IEA's monthly oil market report the day after.feedback

Michael McCarthy

The week ahead is packed with potentially market defining releases. However, the key to market performance this week is the response to the U.S. lift in rates.feedback

John Kilduff - Again Capital

Everybody was focusing on long speculatives' interest in this market – [there was] also one of the biggest short commercial positions in this market because [drillers] have all taken advantage of the rise above $50 to lock in their cash flows going forward.feedback

John Kilduff - Again Capital

Now the OPEC and the non-OPEC adherents to the deal that was cut have a big problem on their hands because these guys aren't going away as quickly this time.feedback

Fawad Razaqzada - Forex.com

Their (OPEC's) response may very well be a continuation of co-operation to limit their oil production, perhaps for a little longer than they had hoped and this should help keep a floor under oil prices.feedback

Fawad Razaqzada - Forex.com

Indeed, despite today's sharp selloff, I remain bullish on oil and still expect to see $60-$70 a barrel by the year end.feedback

Hamza Khan - ING Bank

U.S. oil stockpiles have gained around 50 million barrels since the start of the year, raising some doubts over the effectiveness of OPEC cuts.feedback

Fawad Razaqzada - Forex.com

Indeed, despite today's sharp sell-off, I remain bullish on oil and still expect to see $60-$70 a barrel by the year end.feedback

Khalid al-Falih

All of us realize that such an expanded network of producers with a larger share of global production is the only way to achieve a constructive, stable market for all.feedback

Sam Wahab - Cantor Fitzgerald Europe

There are also certain doubts as to whether all OPEC members will stick to their quotas (notably Iraq), which combined, could very well see the Brent oil price slip towards $50 over the coming fortnight.feedback

John Hess - The Hess Corporation

It's really healthy that shale producers understand the importance of OPEC. We're all in the same boat.feedback

Frank Patterson

We have this great opportunity to run with. We can develop what we have and grow.feedback

Mike Wittner - Société Générale

Despite continued strong OPEC cuts and compliance in February, the markets are simply getting impatient waiting to see any impact on US crude inventories, which have now built every week this year, by 784 kb/d since December 30. $50 is a technical support level for WTI, but more importantly, it is a key psychological level both for the oil markets as a whole, as well as for US shale producers.feedback

Michael Cohen

We maintain our bullish view on Q2 and see this as just setting the stage for breaking the upper bound of the recent mid 50s trend as soon as we get closer to summer.feedback

Michael Cohen

Sentiment is not going to be conducive to support prices as we enter into the turnaround season. Second, Nigerian output has made some recovery thus negating the impact of more severe OPEC cuts and a relapse in Libyan output.feedback

Matt Smith

It's really been like a kettle boiling for the last few weeks in terms of having traded in a very tight range. There's been this pressure building form a technical perspective. As that happens, as that pressure builds, we tend to pop violently.feedback

John Kilduff - Again Capital

Obviously, it's bearish. They're going to have to show considerable production constraint having that spare capacity. That's the kind of capacity historically only the Saudis have had.feedback

Jabbar Ali Al-Luiebi

We achieved this great achievement of 4 million barrels per day ... middle of 2016, and now we have climbed up and we are reaching about 5 million barrels per day beginning of second half of this year.feedback

Mohammad Barkindo - OPEC

I think we have broken the ice between ourselves and the industry, particularly the tight oil producers and the hedge funds who have become major players in the oil market.feedback

Mohammad Sanusi Barkindo

They have just started coming in, trickling in, and they promise to be even much higher than the January figures of conformity.feedback

Khalid al-Falih

It's not a matter of whether the U.S. should or shouldn't invest in its shale and contribute to the global market supply base. It's the pace at which it can supply. OPEC obviously will not indefinitely reduce its production and market share to make room for that. So we need to find that balance and grow in line with the market.feedback

Khalid al-Falih

Though I would caution that my optimism should not tip investors into what I would call irrational exuberance or wishful thinking that OPEC or the kingdom will underwrite the investments of others at our own expense and long-term interests.feedback

Khalid al-Falih

History has also demonstrated that intervention in response to structural shifts is largely ineffective, and I believe we in the organization have learned that lesson. That's why Saudi Arabia does not support OPEC intervening to alleviate the impacts of long-term structural imbalances. In light of improving fundamentals, whose effect has been amplified by the OPEC and non-OPEC cooperation framework, I am optimistic about the global market outlook in the weeks and months ahead.feedback

Alexander Novak

We did not interfere in U.S. domestic politics and we prefer that every country be independent in resolving its domestic issues. This was indeed an historic event, I mean the agreement which was signed between OPEC and non-OPEC countries, it's the first time in history...in compliance with the agreement that was reached, we are going to achieve the 300,000 result at a fast pace.feedback

Alexander Novak

I believe that currently we have a supply and demand balance, I mean for this winter period, but for the future we need to see how the situation will evolve in terms of the demand growth and how the production picture moves along in other countries, so we will need to assess the supply-demand balance and its dynamics.feedback

Alexander Novak

Undoubtedly the joint action by many countries to achieve the balance and to reduce the output are aimed at giving stability to the market and as a result we see a great level of investment, lower volatility, prices stabilizing at a certain level, which does play out to move investment going into shale production so one needs to assess the overall supply and demand balance.feedback

Jabar Ali al-Luaibi

It's very premature to talk about any changes or to predict anything.feedback

Isabel dos Santos - OPEC

We feel that there is a great deal of upside (to the cuts) and it was about time OPEC had an agreement. If an extension came along, we would comply with it... Considering the current environment, it could be positive.feedback

Jabbar Al-Luaibi

It will depend on oil prices and market stability. If OPEC decides cuts, then Iraq will cut.feedback

Mohammad Sanusi Barkindo

It depends who you talk to and it depends on what inventories you are looking at. But overall, I think so far, so good. Inventories are responding if you look at both onshore and offshore inventories.feedback

Mohammad Sanusi Barkindo

That's very premature at the moment...That's a long time in this market. When we meet in May and we'll be able to look at the numbers and see where they are. We are talking about stock levels and stock draw downs...to what extent we achieved our [goal].feedback

Daniel Yergin

The oil market has been rebalancing and the powerful forces of supply and demand have been working. The mood will be different this year.feedback

Steve Pastor

We expect a balanced oil market in 2017 for the first time in nearly three years.feedback

Scott Sheffield - Pioneer Natural Resources

People just don't seem to realise how big the Permian is. It will eventually pass the Ghawar field in Saudi Arabia, and that is the biggest in the world.feedback

Vikas Dwivedi - Macquarie Group

There's a lot of worry about what the U.S. supply picture will look like, and there's a lot of worries about the OPEC cuts. We think you're going to get good inventory numbers, which will propel a rally in the commodities, and take the exploration and production companies higher.feedback

John Kilduff - Again Capital

Saudi Arabia is the key to the market right now. They have cut more than their commitment under the deal, carrying the load that is driving the high compliance rate. If [the Sauids] waver on IPO'ing Aramco or see a real loss of market share, they could decide to produce full-out, again in response.feedback

Dennis Gartman

The Trump Administration is modestly bearish for prices of crude oil, but demonstrably bullish for domestic crude oil production.feedback

Daniel Yergin

That was a key relationship for the dialogue they made for this OPEC, non-OPEC agreement, which really hasn't happened before, and the compliance is higher than it's been in the past. I think they're committed to this deal, and that's one of the main things they want to convey.feedback

Darren W. Woods - ExxonMobil

Well, you've seen OPEC make a difference in the market here in the short term. Certainly, the Permian and unconventional play brings a new dimension to the marketplace, and it's just a question of how OPEC intends to respond to that. You saw earlier on, their response was to continue to keep production up. The market got oversupplied. Prices came down. They've now backed off of that. You see unconventionals coming back up again. I think … the market is still in a bit of discovery, trying to understand how that conventional play fits in with more of the traditional dynamics.feedback

Helima Croft - BC Capital

Barkindo, he's like the whip of OPEC. There are stories of Barkindo going to these capitals and trying to drive compliance. He drove the deal home. He's the one really forcing compliance. He knows he needs to talk to the heads of state rather than the oil ministers. He's a skilled operator. Kahlid is the big brand ambassador for Vision 2030. … He's like 'minster everything'. He's the big seller of the Aramco IPO. He'll double down on the Vision 2030, and he'll reaffirm Saudi commitment to the reformation plan.feedback

Helima Croft - BC Capital

This is the push/pull of the market. I think OPEC is hoping that this remains largely a Permian story. ... That a lot of the cost deflation we saw will rise as prices rise. Service companies will again charge more. There's a sort of uncertain equilibrium they have to deal with in U.S. production. They hope it will remain largely Permian, but it could get away from them and require deeper cuts. I don't think the problem is compliance within OPEC, because the Saudis will do what it takes.feedback

Randy Foutch - Laredo Petroleum Holdings

I think what you're seeing is the shale play was totally without majors. I think part of my problem is we've seen too many times where there was a double dip. I don't want to be a pessimist but we're relying on OPEC and it's in their best interest to cut production, and we're relying on them. We've taken the United States from being [oil] dependent to having a huge amount of supply in a short amount of time.feedback

Darren W. Woods - ExxonMobil

We're looking at a phased investment where we can bring in an initial early production within five years of that discovery, which is almost unheard of in this industry, and then as we continue to explore that block, bring on more production.feedback

Darren W. Woods - ExxonMobil

It's an exciting day for me because it's my first chance to talk to the investment community, talk a little bit about our plans, talk about what we see as being the advantages that we have as a company and the opportunities we have in front of us.feedback

Virendra Chauhan

The market is largely a range-bound market, although positioning is quite skewed at present which could mean that when things do pop it could be a violent swing. The weakness at present is also a follow through from U.S. inventory statistics which hit a record high yesterday.feedback

Claudio Descalzi - Eni

I think that the price is going up. But clearly we are going to an imbalance between demand and supply.feedback

Paul Waterman - Elementis

It feels like there is a bit of growth in 2017 (in the energy business).feedback

Denis Manturov

It is currently at the stage of a proposal. What is more important is that all governments, which are the main producers and exporters of primary aluminum, agree on principles of single policy in the area of standards and technology.feedback

Jodie Gunzberg

When there's a shortage, there's no value to storage. So, there's a premium put on having the oil right now. That's where you want to be sitting up front in the near contract.feedback

Andy Lipow - Lipow Oil Associates

The big bet is that OPEC/non-OPEC complies with the cuts and inventory draws. If over the next few months inventory surveys show little in the way of confirming the cuts, back to the mid $40s we go.feedback

Matt Maley

Energy stocks usually lead crude oil ... so if history is any guide, the decline in the XLE should be telling us that the recent bounce in WTI is not going to last. The Commitment of Traders data shows that the 'specs' are loaded to the gills in crude oil – they have their largest net long position ever. Similarly, the 'commercials' have their largest net short positions ever.feedback

Andy Lipow - Lipow Oil Associates

At these price levels, the specs are more inclined to enter the oil market on the long side as they feel we just won't go below $30 as world demand keeps rising.feedback

John Kilduff - Again Capital

With those two together, the U.S. is becoming an export juggernaut.feedback

Paul Horsnell - Standard Chartered

There is unlikely to be much more of a tail to the increased flow from the Middle East into the U.S.feedback

Sandy Fielden - Morningstar

Right now, traders aren't incentivized (to store). It won't all stampede out of the gate, but inventory levels will come down. What will happen is that some of it will go to refineries, but a fair amount will be exported too.feedback

Virendra Chauhan

OPEC's strategy is targeting inventories – given the scale of the overhang, the market won't rebalance in six months – we expect an extension into (the second half of 2017).feedback

AB Bernstein

Current oil prices are neither sustainable for OPEC or the industry. As such, inventories will have to fall, which we expect will be clearer in the spring after the seasonal build.feedback

Ole Hansen - Saxo Bank

It does clearly show the market is seeing the light at the end of the tunnel. U.S. production increases are unlikely to outweigh cuts that we're seeing from OPEC and then adding expectations for a continued strong rise in global demand we have a market that is moving toward balance, but it is going to be uneven.feedback

John Kilduff - Again Capital

We are an oil nation now. We are a petroleum state. You have to see how far down our shale producers can drive down their costs. It's hard to see them competitive with the likes of Saudi Arabia, but they are competitive with some other countries.feedback

John Kilduff - Again Capital

The pressure on prices is going to stay in place and ultimately break us out of this range to the downside. I'm not sure the Saudis don't throw it down … but history says the shale guys will cut back.feedback

Kyle Cooper

OPEC's got a competitor. No doubt about it. They certainly have to be concerned with U.S. oil producers eating into their market share. If you're bullish, this should make you worry. I think by late March, April, the market should be concerned about whether [OPEC] compliance is really compliance. Never underestimate U.S. engineering with an economic incentive. What they've done across the U.S. is phenomenal.feedback

John Kilduff - Again Capital

OPEC is definitely looking over its shoulder at these rising numbers of exports, and it's undermining their efforts on a daily basis. Some of it's going to Asia. China is one of the more unusual buyers in there. The shale guys are filling the gap of the very cuts that were put in place by the market.feedback

John Kilduff - Again Capital

It looks like compliance is going to be well below 80 percent. Exports are on the upswing. We're seeing the tanker data.feedback

Tony Nunan - Mitsubishi

It's a battle between how quick OPEC can cut without shale catching up. What OPEC really has to do is get the inventories down.feedback

Mohammed Al Sada - OPEC

It is a very important parameter to show whether we are heading towards market stability or not.feedback

Mohammed Barkindo

All countries involved remain resolute in the determination to achieve a higher level of conformity. I think it would be very premature for the fact that the market is so dynamic it is becoming increasing challenging to forecast. It is too early for us to begin second guessing what the chairman (Kuwait's minister of oil) will eventually submit in his report to this conference.feedback

Tushar Bansal

The OPEC cuts have ... led to an open arb for long-haul cargoes, leading to a rise in long-haul crude imports (which) make up for the decline in OPEC (supplies).feedback

Carole Nakhle

Under current oil market conditions, OPEC risks losing market share with further production cuts.feedback

Michael McCarthy

We are nearing the top of the trading range for West Texas and Brent and so the next couple of sessions will be crucial from a technical point of view, at least in determining which way we break. The DoE data tomorrow will be where we get our next impetus.feedback

Mohammed Barkindo

All countries involved remain resolute in the determination to achieve a higher level of conformity. It was evident in the last quarter of 2016 that total OECD commercial oil stocks were falling, and it is expected that we will see a further drop during 2017.feedback

Mohammed Barkindo

All countries involved remain resolute in the determination to achieve a higher level of conformity. We will continue to focus on the level of inventory drawdown to bring the level closer to the five-year industry average.feedback

Eugen Weinberg - Commerzbank

OPEC must at some point recognize and understand that they are no more the marginal producers and marginal production will be coming from shale oil so prices will come under massive pressure during this year once investors recognize oil supplies are not going to disappear. The world is awash with oil at the moment and there continues to be endless supply so therefore I don't see a real reason for prices to rise above $60 or $70…so I'm really seeing probably the risks of the prices falling below $50 for a considerable period of time and probably even touching the levels of $40 to $45 this year.feedback

Matt Smith

As bullish positioning by hedge funds continues to push on in unchartered territory, the risk of a swift, sharp snapback in prices continues to build. Especially given the bearish backdrop of record crude and gasoline inventories amid lower fuel demand year-on-year.feedback

Jeffrey Halley

Sustained gains above $55 a barrel, and a hoped for rally to $60 a barrel, (are) both proving incredibly tough nuts to crack. At the crux of the matter is that 90 percent OPEC compliance is being balanced by ever increasing U.S. shale production.feedback

Steve Sawyer

In general, the more locally grown crudes ... were not included as part of the (supply-cut) agreement.feedback

David Fyfe - International Energy Agency

It's a confluence of factors. It's crude availabilities and it's strong (fuel oil).feedback

David Wech - JBC Energy

European refiners are well positioned versus the OPEC cuts. The supply that is taken out of the market hits primarily the Asian market.feedback

Steve Sawyer

Europe's refineries are the world's marginal refineries. They are the swing capacity.feedback

Tom Kloza - Oil Price Information Service

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, and] I'm sure most of the exports are light sweet oil.feedback

Stephen Innes

Despite the headlines, the massive inventory glut in both oil and gasoline continues to thwart any upward momentum.feedback

AB Bernstein

In the fourth quarter of 2018, global oil demand will most likely surpass 100 million barrels per day.feedback

Wang Tao - Reuters

Brent oil looks neutral in a range of USD55.38-USD56.44 per barrel.feedback

Andy Lipow - Lipow Oil Associates

[Customers are] looking at other types of crude to fill the gap left by a reduction in OPEC production, and at the same time you're seeing continuing demand in China, as world oil continues to increase. That supports the price of crude and certainly helps the producers in the Permian Basin, Eagle Ford and elsewhere. Some of it for sure is making its way out to Asia. The infrastructure continues to get built out to export more and more crude oil. Not only have we built pipelines, but we built more export terminals. The industry continues to add infrastructure to support more exports.feedback

Helima Croft - BC Capital

It's the type of barrel that chokes the market. We called it the Nigerian barrel last year.feedback

Tom Kloza - Oil Price Information Service

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.feedback

John Kilduff - Again Capital

We're seeing cargos go out to Asia more and more. We've been waiting for this to happen. We'll see how it goes. We're going to face competition. It's incredible that we were able to put 9.5 million barrels into storage last week, while exporting a million barrels a day.feedback

Carsten Fritsch - Commerzbank

The inventory trend in the U.S. raises doubts about whether the OPEC production cuts have actually resulted already in a tighter supply situation.feedback

Stephen Brennock

Should this figure be confirmed by the EIA later today, U.S. crude stocks will have risen to a fresh record high.feedback

John Kilduff - Again Capital

If [prices are] slipping, there's a great incentive to continue to stabilize the market.feedback

Helima Croft - BC Capital

Yes, you could maybe have an Angola fall off, but I think the core GCC powers this decision through.feedback

Victor Shum - IHS

Output will likely increase. There's going to be a slippage in compliance.feedback

Jim Krane

It'll be tougher for the Saudis and some of the other Gulf producers to hold production steady during the late spring and through the summer. Other producers will be tempted to try and meet surging summer demand rather than hold the line and allow prices to increase.feedback

Mohammed Al Sada - OPEC

With the current price some fields can be developed profitably though the majority of fields today will not be satisfied with this current price and will not be able to justify further development in high-cost oil fields, especially deep-water and unconventional fields.feedback

Herman Wang - S&P Global

How long Saudi Arabia is going to be willing to shoulder the burden of these cuts if it proves that some of their cohorts are not fully complying with the deal, that remains to be seen.feedback

Daniel Yergin

I think the reason that they're sticking to this agreement is necessity and what it means to their own national budgets.feedback

David Wech - JBC Energy

What it (OPEC and non-OPEC cut) does is basically avoid an even worse surplus than what has been the case in 2015 and the first half of 2016. But it does not eliminate (the surplus) in the first half of the year.feedback

Olivier Lejeune - International Energy Agency

If OECD stocks were to continue to draw in 2017 at the same pace as that seen over July-December, then it would take us around a year to return to the five-year average in stocks.feedback

Richard Mallinson - Energy Aspects

Our view has always been that there was a good chance of an extension largely because we always recognised that the focus was on bringing down that overhang and that that process is very likely to take more than six months.feedback

Herman Wang - S&P Global

Saudi Arabia is bearing the brunt of these cuts. They are going above and beyond, compensating a little bit for some of their cohorts within OPEC that are not quite in full compliance. Now how long Saudi Arabia is willing to shoulder the burden of these cuts if it proves some of their cohorts are not fully complying with the deal remains to be seen.feedback

Herman Wang - S&P Global

OPEC spent much of the last half of last year talking up this deal. We wanted to see whether they were actually going to walk the walk and not just talk the talk. The 10 members that were required to cut production under this deal have achieved 91 percent, 1.14 million bpd, of cutting from October levels, which was where this deal was benchmarked from.feedback

Boris Schlossberg

I think oil is in a very dangerous zone now precisely because demand is not there. The irony of this whole thing is that OPEC cuts are holding, but the demand is not there. And the longer oil wallows at this $52 level, the more likely it's actually going to go to the downside. And if it trips to $50 a barrel stops, I think it could really tumble very quickly. So I think we're in a perilous territory.feedback

David Seaburg - Cowen and Company

I think from a trading perspective here for the near term, it looks like it's a level you probably want to step in and take a look from the long side. They're comfortable with that, therefore you probably get a trade here I think for the near-term to the upside.feedback

Lukman Otunuga

The resurgence of U.S shale amid the rising oil could undermine the efforts of OPEC and Non-OPEC members in mitigating the global oversupply consequently leaving oil prices vulnerable. There is a threat of the OPEC production cut deal falling apart in the future if U.S shale continues to pump incessantly.feedback

Mohammed Al Sada - OPEC

The market is gradually accommodating for shale oil as well as shale gas – the demand is healthy. With that continuous demand increase, I think all available oils are going to be accommodated. All indications show we are heading in the right direction and the drop in supply started in a very concrete way. That will give us a sort of comfort that the gradual drop [in inventories] towards the five-year average will be clearer down the road.feedback

Ric Spooner - CMC Markets

There's a recognition that even with the Opec production cuts, it's going to take some time for this large inventory overhang to be reduced to more normal levels. It leaves the oil price vulnerable to a move back below $50.feedback

Pierre Andurand - Andurand Capital Management

While we believe there is a 30 percent chance for the tax adjustment to go through, it also reinforces our belief that OPEC will do anything that is necessary to push oil prices higher as soon as possible.feedback

Mike Wittner - Société Générale

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.feedback

John Kilduff - Again Capital

Oil is under tremendous pressure now. It's below the major moving averages and we're going into the shoulder demand season.feedback

Mike Wittner - Société Générale

Bottom line is: Bullish OPEC cuts versus bearish U.S. shale recovery. The OPEC cuts look like they'll be around a million barrels a day. The U.S. recovery is not a million barrels a day. It's 200,000, 300,000 and maybe 500,000 by the fourth quarter versus last year.feedback

Brian Gilvary - BP

If everything holds in terms of what OPEC has said I think we will hold north of US$50 a barrel.feedback

Tamas Varga

The general perception is that OPEC is cutting production, which is supporting prices, but high stock levels, rising rig counts and growing U.S. production are capping gains.feedback

Anthony Headrick - CHS Hedging

It's a supply-driven setback ... We are within 2 million barrels of the record in U.S. gasoline stocks that we saw last February. A strong build in inventory reports could weigh on gasoline in a seasonal time frame where gasoline demand is weak.feedback

Mike Wittner - Société Générale

Rig counts are increasing at an accelerating pace, and given the technological advances of the past three years, this should translate into significant supply. U.S. shale is coming back, and it's coming back strong.feedback

Neil Atkinson - Lloyds Bank

I think $63, $65 (for Brent), I think you might be a little bit ambitious there because the OPEC producers have got this basic issue: they don't want the price to go too low, clearly, because their economies wouldn't stand it. But if the price goes too high then that's going to attract a lot of investment in other parts of the world, principally the U.S. shale producers, because that has a much nimbler time frame but elsewhere, which will lead to high supply coming on stream in due course, which will lead us back to the same situation.feedback

Tushar Bansal

For OPEC, and here we mean the Mideast countries, Asia is their core and growing market. The last thing OPEC ... would want is that as they develop newer markets outside the region, some other players like Rosneft or Venezuela [would] increase their market share in what is their backyard.feedback

Ben le Brun - OptionsXpress

Obviously we saw some solid gains in prices in the previous session so there might be a little bit of profit taking in the Asian session after the market rallied unexpectedly. But prices are still very much range-bound.feedback

Oystein Berentsen - OPEC

Oil stocks are drawing, especially in Europe. In Asia, strong demand is tightening the market, but it will take time.feedback

Tom Kloza - Oil Price Information Service

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.feedback

John Kilduff - Again Capital

Something else that jumps off the page is how much gasoline demand is down. We're down 5.7 percent from the same period last year. Sometimes it says something about the economy.feedback

Michael Cohen

If we come out of turnarounds and margins are terrible because product inventories build instead of draw, we could be looking at a correction in late February, March time frame, which sets the stage for basically higher lows.feedback

Tom Kloza - Oil Price Information Service

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.feedback

Andy Lipow - Lipow Oil Associates

The oil price is reacting to the implementation of production cuts by OPEC And non-OPEC producers. Inventory statistics today showed products building across the board. If we're seeing not only inventories here but inventories worldwide increase there would be worldwide pressure on oil prices. It's clear it will pressure prices down but we have to see what happens with the rest of the world. You won't have to worry about running out of gas this summer.feedback

Abhishek Kumar - Interfax

Crude prices are still receiving support due to the weakening US dollar index and as markets look ahead to the upcoming OPEC report highlighting the level of compliance by the cartel on oil output cuts.feedback

Alexander Novak

We are also noticing a significant decrease in speculative pressure to the prices.feedback

Alexander Novak

Some countries have cut more than it was planned and are moving ahead of schedule. Russian oil production was down by 117,000 bpd in January.feedback

David Fyfe - International Energy Agency

If they hold 1 million bpd cuts into 2017, and the Russians contribute something, there could be a 250 million-barrel draw.feedback

Fereidun Fesharaki

Opening up the environmentally sensitive areas that Obama had closed could make a difference that could increase conventional fuel production by 1 million barrels per day (bpd) or more, but that would take five to seven years, so in the short-term, there's no impact. Keeping it in this range of where it is today is very important because it only allows one important part of the U.S. production–Permian Basin–to come in. Bakken and Eagle Ford are still high-cost to come in at this price range.feedback

Andy Brogan

We expect to see the momentum that began in the fourth quarter of 2016 continue in the year ahead.feedback

Zaki Yamani

I have a strong feeling that this will work out and that OPEC will be in the driver's seat.feedback

Ali Naimi

Saudi Arabia tried in the past to play the role of the swing producer by reducing production to maintain a specific price, but the result was unfavorable to the kingdom. Despite the fact that its production fell from more than 10 million bpd in 1980 to less than 3 million bpd in 1985, prices collapsed. As a result, the kingdom not only lost in terms of prices but also lost its market share at that time. We have abandoned once and for all the role of swing producer.feedback

Hisham Nazer

We will conscientiously support OPEC ... but we will not appoint ourselves custodians of the policies of OPEC, nor will we be willing to play the role of swing producer at all.feedback

Greg McKenna

That's a good start ... to cut production to bring the market back toward balance.feedback

Eddy Elfenbein

The key, this is the big game changer is that the OPEC cuts that they announced in November, these were the first major cuts in eight years, they're actually working. OPEC… they never cooperate. And it really is working this time.feedback

Thomas Pugh - Capital Economics

At the end of the day, U.S. shale oil drilling will depend on the prevailing market prices and there's not much Trump can do about that.feedback

Daniela Corsini - Intesa Sanpaolo

The Trump presidency should benefit the oil sector. It's not clear which measures will be implemented, but lower taxation and lower concerns about tighter environmental constraints would benefit U.S. domestic production.feedback

Ehsan Ul-Haq - KBC Advanced Technologies

On the whole, there is a lack of medium and sour crude, which is leading (buyers) to look for alternatives.feedback

Andrew Wilson

The sour crude is really very, very valuable. I would expect Europe to be in a pretty big deficit of sour crude for a few months.feedback

Daniel Gerber

OPEC supply is on track to decrease by 900,000 bpd in January, suggesting a high level of compliance thus far into the production curtailment agreement.feedback

Abdulla Faris

We hope by mid-year tankers which carry 1 million barrels of oil will be able to dock.feedback