You can't blame China for 70-a-barrel oil.
More Quotes from Kevin Norrish:
People have been on edge over Iran for some time now. This adds another layer of concern.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
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
US product markets remain extremely weak at present, with most of that weakness focused in gasoline markets.
Kevin Norrish
There's still going to be concern about potential hurricanes in the market for a few months. Crude output and refining are so tightly stretched that you don't need a big disruption to put the system under a lot of pressure.
Kevin Norrish
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