We were thinking it would be more along the lines of 10 percent production growth, so it was a little disappointing.
We were thinking it would be more along the lines of 10 percent production growth, so it was a little disappointing.
It's all geopolitical right now. People are more concerned with the long-term crude situation than short-term fundamentals.
Barring ... any catastrophe in Iraq or Iran, which is certainly the big wild card in this, we expect to see prices to start coming down in the June, July range.
All in all, the report was pretty neutral. Everything pretty much was right in line with expectations.
The major issue here is the huge build in gasoline stocks. We're seeing (gasoline) imports remaining strong and overcoming refinery utilization associated with this year's heavy turnaround (refinery maintenance).
© 2020 Inspirational Stories
© 2020 Inspirational Stories