Francisco Blanch
Francisco Blanch
bad decision looks oil sell shares
In hindsight, the decision to sell oil shares looks like a bad one.
attacks concern factor given importance prices
The attacks are a concern given Nigeria's importance as an oil-producing nation. It's a factor that will keep prices supported.
demand party positive supply
I don't think the party is over. You still have positive demand and supply constraints.
course cushion demand few gone high inventory levels market months problems providing relatively rising situation structural
The relatively high inventory levels are providing some cushion to the market, but of course demand is rising in the U.S.. We are in a more comfortable situation than a few months ago, but the structural problems this market has haven't gone away.
atlantic both cold competition gets november period sides spain winter
Once it gets really cold, you have both sides of the Atlantic bidding for the same gas. This winter we had a very cold period in November and December, and there was a lot of competition between the U.K., Spain and the U.S.
agree bit build capacity demand fall growth higher pressed prices production warm winter year
It's been a very warm winter in the U.S., so prices are pressed to fall as inventories build and demand slows down. I agree that growth in production capacity this year will be a bit higher than demand growth.
agree bit capacity demand growth higher production supply tends terms year
I agree that growth in production capacity this year will be a bit higher than demand growth. Still, the IEA always tends to be over-optimistic in terms of non-OPEC supply growth.
april capacity coming deepest early late next season stream week
We've had the deepest refinery season in a very long time. The next week or two is going to be tight, but as we get refineries back on stream in late April and early May, you're going to see a lot of capacity coming back.
investing ways
There are better ways of investing in commodities than the indexes.