There is tremendous political risk to supplies, including from OPEC producers, such as Iran or Venezuela, who have trouble meeting their production quotas, or even Nigeria. They can't address these concerns openly, but I am sure they are on everybody's mind.
More Quotes from Antoine Halff:
The decision to meet again in a few weeks shows that OPEC's price appetite is pretty robust.Antoine Halff
If it is rhetoric, it is to balance the perception that that they are responsible for the high prices.
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If we have colder-than-normal weather, we'll see a bit of a shock to the economy, ... I plan to put a sweater on at home.
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Heightened geopolitical risk profoundly changes the meaning of fundamentals.
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Geopolitical factors have been the major factor pushing us higher and they will get worse before they get better.
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The government is trying to collect overdue taxes from oil companies to recover some lost taxes. And there is still some confusion about the government being in crisis.
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