Bruce Evers
Bruce Evers
anytime focus markets nigerian people plenty situation
One doesn't see the Nigerian situation getting any better anytime soon. There is plenty for people to focus on. People just don't know which way markets are going to break.
bubble continues control cut fears further iranian last lost market near oil pay production situation underneath unlikely whatever
It's still fears over further disruptions in Nigeria, and the Iranian situation continues to bubble underneath the surface. Whatever OPEC says, the market is unlikely to pay much attention. They lost control of the market last year, and to cut production with oil near $70 would be irresponsible.
couple market prices send signal wrong
If they cut, it will send the wrong signal to the market and send prices up a couple of dollars.
below closure consensus events impact numbers outside texas
Numbers were below consensus because they had a big impact from the hurricanes and the closure of Texas City. These were events outside their control.
barrels losing nigeria oil per prices
With oil prices over 60.0 dollars, it is not necessary, particularly with Nigeria losing about 500,000 barrels per day.
barrels bring disruption impact line meet million minor oil per producers rising supply year
World producers need to bring another 1 1/2 million barrels per day on line every year to meet rising demand. So even a minor supply disruption is going to have a disproportionate impact on oil prices.