David Fyfe
David Fyfe
capacity gulf happen huge iran low margin means mexico million spare supply
Historically, spare capacity of 1 to 2 million b/d is still very low considering all the uncertainties on supply in Nigeria, Iraq, Iran and the Gulf of Mexico and it means there's not a huge margin of flexibility if anything should happen to those producers.
capacity easing last modestly prospect spare year
There is some prospect of fundamentals easing modestly this year. There could be more spare capacity this year than last year.
asian concerns cut greater longer oil pressure
There are concerns that the longer $60 oil persists, the greater the pressure will come (on Asian governments) to cut subsidies.