Lawrence Eagles
Lawrence Eagles
ahead chooses cut meeting output prices public remain size whether
Whether OPEC chooses to make public the size of any output cut ahead of the ministerial meeting Nov. 14 is uncertain, ... But it may well choose to do so if prices remain weak.
clear demand high impact moment oil prices seen signs starting
There are clear signs at the moment that we are starting to see the impact of high oil prices on demand -- and that's being seen in many regions.
agreeing cut discuss february january likely meeting paranoia time
OPEC has a paranoia with oversupply, ... This weekend's meeting is likely to see OPEC agreeing to meet some time in January or February to discuss a cut in supply.
however itself shown stability
However in doing so it has also shown itself not to be a bastion of stability it had claimed, but a hawkish price-rigging organization.
iraqis job last money projects short supposed
Most of these projects were supposed to be done last year. If U.S. money had been made available, Iraqis could have done the job faster. Whichever way you look in the short term, it comes back to security.
driven due overnight price protests recovery security
Part of the recovery overnight (in the price of oil) may have been due to anti-Israeli protests in Jordan, where 30,000 protestors had to be driven back from the boarder by security forces,
china demand growth last strong within
Demand is still strong within China but growth was exceptionally strong last year. That year-on-year growth is narrower is not a surprise.
issues night oil plus
As we go forward, geopolitical issues won't go away over night, but we wouldn't have got to oil at $60 plus without a lot of other factors.
hurricane market situation
The market has coped very well with the hurricane situation on the surface, particularly on the refinery side,
attack eastern fashion fear lose middle remains respond small support
The U.S. will respond to this attack in some fashion and there remains a small fear that it may lose some Middle Eastern support as a result.
dangerous follow game playing prepared
OPEC is playing a dangerous game of bluff, and has to be prepared to follow it through.
continue crude current feeling next physical prices surplus week
Our feeling is that with the current surplus of physical crude that prices will continue to erode from here for the next week or two.
compliance demand fear february firm improve partly prices seen slump winter
Compliance will improve from February levels, partly because the winter demand will not be there and also because of the fear that prices will slump if OPEC is not seen to be in firm control,
although clearly few next opportunity overnight peace signs three window
There were a few signs overnight that, although clearly tensions are rising, there is a window of opportunity for some peace settlement over the next three days.