This is significantly slower than the recovery from (Hurricane) Ivan, ... The easy stuff has been brought back. ... Now the tough stuff is ahead of us.
More Quotes from Jamal Qureshi:
We're in a world that faces serious problems with political stability in several key regions. People want to hold more supplies closer to home, and that's going to keep demand high for purchasing imported barrels.Jamal Qureshi
Even if the refineries are OK, they could be starved of their imports.
Jamal Qureshi
Refiners are already going to be feeling a bit of a pinch in their ability to provide supply, and importers as well.
Jamal Qureshi
We are really narrowing our ability for an import bail-out.
Jamal Qureshi
OPEC is going to have to go back to some supply management again if they are going to hold a (price) floor. It should be easy for them to manage, it's not like they have to cut a lot they will still be at high output levels.
Jamal Qureshi
We had a huge US crude build and OPEC said they're going to just keep pumping at high levels, so between the two of those it's pretty easy to understand the sell-off.
Jamal Qureshi
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