Guy Caruso
Guy Caruso
adequately best continue demand determine market needs therefore view wants
I think our view is the market needs to continue to be adequately supplied. There is a lot of uncertainty about demand and therefore it's best to let the market determine how much it wants to take up.
largest midwest region suffer
Probably, the Midwest region will suffer the largest increases.
arabia concerns specific
I don't have any specific concerns about Saudi Arabia at this time.
arabia barrels continue million outlook per spare tight
In our outlook we only have two million barrels per day of spare capacity, most of which will be in Saudi Arabia and most of which will be sour. We continue to see that as a pretty tight market.
compared expect last price winter
Clearly, we expect significant price expenditures (for heating fuels) this winter compared to last winter,
ethanol exists expected increased price regional remain supplies supply tight
Ethanol supplies are expected to remain tight and increased possibility exists for regional short-term supply disruptions and price volatility.
disrupted environment living oil supply
There's very little upstream capacity. We're still living in a disrupted world oil supply environment.
demand fast prices relief rising supply valve
Demand is up, supply is not rising fast enough to keep prices down, so the only relief valve is price.
continuing despite growth high oil robust
There's a very robust growth in the economy. We see that continuing despite high oil prices.
apparently curb high price travel
Apparently the price isn't high enough to curb non-discretionary travel.
afford crude large lose market supply tightly
The market is so tightly balanced, clearly, we can't afford to lose a large supply of crude to the market.
afford cannot clearly further gasoline impact production risk
There's a risk that we could have a substantial impact on further refineries. We clearly cannot afford any further disruptions in gasoline production and capacity.
crude demand extremely happening market oil partly pressures prices reading supply tight
What's happening is fundamentally that the world oil market is extremely tight and crude prices are rising, partly because demand is outstripping supply and partly because of the geopolitical pressures that we're reading about every day in the papers.
adding continue potential risk upside
We continue to see geopolitical risk adding to the upside potential of price.