Tor Kartevold
Tor Kartevold
concerned european high intervene katrina led market prepared prices rise signal strong
It's a strong signal to the market that the U.S. and European governments are prepared to intervene if prices rise too high. Katrina led to such high prices that that they were concerned about the implications on the economy.
affected crude depends less manageable serious situation water
The crude situation is less serious and more manageable than that of refineries. It all depends on how water affected refineries in the area.
accept arabia capacity close full heavy hesitant lower operating producer production spare worth
As long as OPEC is operating at close to full capacity, there is little they can do to lower prices. Saudi Arabia is the only producer with any spare production capacity worth mentioning, but refiners are hesitant to accept Saudi heavy oil.
buffer crude damage oil releasing reserve strategic
With damage to crude production, releasing oil from the strategic reserve would be a real buffer and could alleviate the situation.