David Thurtell
David Thurtell
demand driving fuel hemisphere northern oil peak prices winter
Peak demand for winter fuel in the northern hemisphere is what is going to be driving oil prices in the fourth-quarter.
adding demand disruption global higher oil premium prices pushed risks serious supply
Global demand has pushed oil prices to a new higher platform, and risks of serious supply disruption (Iran, Nigeria) are adding a premium to prices.
colder looks prices provided range send sixties
Provided we don't get any disruptions to supply, it looks like prices could have short-term weakness. But if we get a much colder winter, it could send prices into the sixties range again.
barrels destroy good help higher increase language longer million prices recognizes short term
From his language he recognizes that while higher prices are good for revenues in the short run, longer term they help destroy demand. OPEC is probably going to increase by 1 million barrels a day.
couple cut next prices range stay weak
I think we'll stay in a $58 to $66 range for the next couple of months. If prices get too weak OPEC, will just cut back.
few gulf next prices production unlikely
Gulf production is really struggling. It's very unlikely that prices are going to come significantly under $60 in the next few months.
demand gone peak prices season winter
In my view, prices had probably gone down too far, especially with peak demand winter season looming.
market news prices push shock starts supply trading vulnerable
The market is very vulnerable to a supply shock like this. This news will push up prices when trading starts tomorrow.
drive far lingering mean political prices risks supply
The lingering political risks to supply mean we're not going to drive prices down too far or too fast.
deal demand hemisphere northern prices rebound worry
The worry is that if prices come off a bit, demand will rebound and we've still got to deal with the Northern Hemisphere winter.
falling high main prices reason united
The main reason that prices are falling now is that demand, especially in the United States, has been impacted by high prices.
iranians taking
The Iranians are taking this right down to the wire.
calmed literally release reserves strategic weathered
Literally and figuratively, I think we've weathered the storm, as the release of strategic reserves has calmed the market.
council eyes happens next outcome report security waiting
All eyes are still waiting to see what happens with Iran, and what the outcome will be when the IAEA makes its report to the U.N. Security Council next month.