Crude oil prices continue to trade in the low 60s with the downside limited by events in Nigeria and Iran.
More Quotes from Kevin Norrish:
Political expediency would argue for an increase in output, while commercial logic would argue that the pressure should be resisted when OPEC meets next week.Kevin Norrish
Ultimately, a battle for market influence between geopolitical factors and the flow of U.S. data is likely to be settled in favor of the former.
Kevin Norrish
The U.S. is facing a major gasoline crisis and is starting from a nearly empty tank.
Kevin Norrish
The morbidity of non-OPEC supply is a factor that is fuelling the rise in prices. Russian output growth has decelerated...with the year on year growth in output for July a sharp downshift from the...growth rate achieved in July 2004. The IEA sees Russian supply rebounding strongly in the rest of the year and into 2006. Their forecast is for Russian output to grow by 390,000 bpd in 2006, a very good recovery from the growth seen in the most recent monthly Russian output data. In all, the IEA view seems somewhat optimistic...
Kevin Norrish
There is a strategic element to it. It's something that we've seen before. Japan was doing the same thing about 10 to 15 years ago, with a lot of its natural resource companies, including oil companies, buying into foreign projects.
Kevin Norrish
The catalyst for the move higher appears to have been the release of a weather forecast drawing attention to the likelihood of another cold winter, prompting a surge of buying interest in winter fuel markets on both sides of the Atlantic.
Kevin Norrish
Readers Who Like This Quotation Also Like:
Arrange whatever pieces come your way.Virginia Woolf
I owed it to my father that I was elected to Parliament in the first place, but I owed it to my mother that I stuck it out once I got there.
Agnes Macphail
I've left specific instructions that I do not want to be brought back during a Republican administration.
Timothy Leary