If they cut, it will send the wrong signal to the market and send prices up a couple of dollars.
More Quotes from Bruce Evers:
If they think there is oil and gas there then they absolutely can't ignore it. If there is going to be an Arctic Klondike rush then they will want to be there along with every other Tom, Dick and Harry. They can't afford to sit and watch the others explore and come up with some huge discoveries.Bruce Evers
It is amazing. I still don't see where the inflection point is - the point where (oil) prices start to affect demand and growth. Maybe in two months' time we will start to see the impact.
Bruce Evers
If (UN) sanctions were to be imposed on Iran, the president is perfectly capable of cutting back or stopping exports to cause the West real pain as there would be an enormous spike in prices.
Bruce Evers
There is ample crude around. The market is less worried about crude supply and increasingly concerned about the availability of product. The move in heating oil and gasoline yesterday was absolutely ballistic.
Bruce Evers
I don't expect it will come down very much further. What we've seen over the last couple of years is if there's any meaningful sell-off, people buy the dips aggressively.
Bruce Evers
You write off Iran at your peril. They're perfectly capable of turning round and doing something unexpected.
Bruce Evers
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