A lot of people were expecting that Saddam Hussein would pull a trick before year-end because he was trying to put pressure on the U. N. to lift sanctions or try to alter the position of the sanction, so he threatened two weeks ago to stop exporting oil, ... The traders panicked in anticipation of a supply shortage, but Iraq never stopped producing oil.
More Quotes from Fadel Gheit:
My expectations were extremely high we missed big time.Fadel Gheit
The problem is not lack of oil supply. It's lack of oil refining capacity, ... You can give me all the oil you want, but our cars do not run on crude oil.
Fadel Gheit
It's a normal pullback after a sharp rise that was driven more by speculation than fundamentals.
Fadel Gheit
Alliances are temporary engagement periods and are short of a merger, but they get in the way of the business and are distracting from bigger and better things.
Fadel Gheit
The easing of the tensions in the Middle East has calmed down the oil market and there appear to be no immediate plans to conduct military action against Iraq. So that has eliminated the second point of worry,
Fadel Gheit
Politicians can flip in no time, depending on where the political wind is blowing. The company is concerned and doing the right thing by educating the public.
Fadel Gheit
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Based on Topics: People QuotesBased on Keywords: exporting, panicked, year-end
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