Geopolitical factors have been the major factor pushing us higher and they will get worse before they get better.
More Quotes from Antoine Halff:
There's a combination of strong economic statistics, an increase in geopolitical concerns regarding a variety of oil-producing countries and bad refining news, and the market has been very spooked. It's a long laundry list of problems.Antoine Halff
The measure is in line with the populist tone of the new regime in Bolivia however how it is carried out in practice still seems somewhat unclear.
Antoine Halff
If it's not rhetoric it's an effort to recapture the share of the oil cut that they gave away to deep conversion refiners,
Antoine Halff
Refinery activity has been very depressed because of damage caused by hurricanes last year and deferred maintenance. There was a huge surge in imports after last year's storms but that has ended. At the same time refinery activity has not recovered.
Antoine Halff
If it is rhetoric, it is to balance the perception that that they are responsible for the high prices.
Antoine Halff
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