It's moving up and down. We've got an erosion of the idea that there has been massive demand destruction while ... at the same time you have got some pretty mild weather on both sides of the Atlantic.
More Quotes from Kevin Norrish:
Under normal conditions, that would be telling OPEC that a cut is necessary. With Nigeria losing about half a million barrels of production it makes it quite hard for them to justify it.Kevin Norrish
What we are seeing is not a function of the world running out of oil. What we are seeing is the legacy of a very long period where investment has been far too low. The problem is getting the oil out of the ground and delivering it to consumers.
Kevin Norrish
The concern over gasoline availability coming into the second quarter is helping to keep crude oil markets relatively firm.
Kevin Norrish
One question would be whether it would be necessary for an increase in production in order to make up for Nigeria. I have a feeling, they probably view that as a bonus.
Kevin Norrish
The ability of the Nigerian government to guarantee security within the Niger Delta appears to be limited at this point in time.
Kevin Norrish
Gasoline inventories fell sharply thanks to falling imports, declining domestic output and strong growth in demand so far in April.
Kevin Norrish
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