Under the wrong circumstances, you could easily see 80 being broken or even higher than that. Any major loss of production is going to give us another major push up.
More Quotes from Kevin Norrish:
India and China are big importers of crude oil, and they're both at the stage of their development where they're energy intensive, ... We have seen no pullback in demand in those countries, or in western countries --demand doesn't seem to be an issue that would help keep prices in check.Kevin Norrish
(Today) it is expectations of further substantial increases in U.S. oil inventory tomorrow that is holding sway.
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
Ever since Bush started building it up, he has made it clear that the reserve is there to be used if there are signs of severe supply disruption, not to act as a tool for managing prices,
Kevin Norrish
The price is definitely going to 65 a barrel. That's not an earth shattering call to make now.
Kevin Norrish
The statement fell short of an outright denial, leaving market fears free to grow.
Kevin Norrish
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