Victor Shum
Victor Shum
compared demand dramatic future growth last oil products remain sales vehicle
Vehicle sales growth has been dramatic compared to last year. This suggests that the future demand for oil products will remain strong.
attracted certainly events hitting oil prices recent
There is certainly the possibility (of prices hitting USD70). The recent events have attracted speculators and oil has become a lot like an investment.
calming cut effect production suggestion targets
The OPEC suggestion that they would not cut production targets has had a calming effect on the market.
barrel depend dollars hit mark market near played problems talk whether
There's a lot of market talk about whether we're going to hit the psychological 65 dollars a barrel mark or even 70 dollars in the near future. I think it will depend on how the geopolitical problems are played out.
china council decisions economic future members near rather sanctions strong ties veto
Any decisions on sanctions will not be in the near future because two members on the council with veto power, China and Russia, have rather strong economic ties with Iran.
built disruption immediate potential premium price prices risk supply threat
The potential supply disruption risk premium has already been built into the price and because there really is no immediate threat to supply ... prices are correcting downwards.
both combining joint political prize systems together
Working together in a joint venture... is always challenging. Here you're combining different cultures, political systems and both are after some prize assets.
attracted certainly events hitting oil prices recent
There is certainly the possibility (of prices hitting 70 dollars). The recent events have attracted speculators and oil has become a lot like an investment.