Oil futures are looking forward to a much colder-than-expected winter. The fact that we have had so many refineries shut down means we are going into this winter on perhaps not enough heating oil.
More Quotes from Gordon Kwan:
This deal is positive. China needs to import oil, after all, but we have to know the valuation of the assets before we can say if it is at the right price.Gordon Kwan
We expect a colder weather in the next two weeks, so heating oil prices and natural gas prices will continue to stay high, and that should support oil prices.
Gordon Kwan
So even though in absolute size of purchase China is really only one-third that of the U.S., when it comes to incremental growth, China is a big player.
Gordon Kwan
The forward production growth guidance of 5 is very admirable for a super oil major. Its operating profit surpasses General Electric and Microsoft.
Gordon Kwan
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