They have to get compliance in order. With six million barrels a day of spare capacity they don't have any credibility in the market unless they can control spare capacity,
More Quotes from Gary Ross:
There's no doubt there is evidence of demand destruction emerging everywhere. U.S. gasoline data over the next week will show the effect of high oil prices on demand.Gary Ross
It's a hard deal. To some degree, it's out of OPEC's control because of the strong product market.
Gary Ross
I think Iran is very unhappy about the size of the agreement, and I think they feel they're being pressured by the U. S. government and they're expressing their unhappiness with the situation.
Gary Ross
World demand in the second half will average 3 million barrels a day more than in the second quarter.
Gary Ross
I've often made the comment that I don't know why everybody goes in it, because it's just an endurance test and the fun goes out of it. It's a long spiel, and I think people have changed. Years ago it was a drinking spiel, and it's not a drinking spiel anymore.
Gary Ross
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