Under normal circumstances, it would be far too soon for OPEC to consider raising production, but these are exceptional circumstances,
More Quotes from Lawrence Eagles:
As far as the Middle East is concerned, there is still strong justification for a premium to remain in the market until it is clear the situation is much calmer on the ground,Lawrence Eagles
Describing the Saudi action as a totally shocking move ... The Saudis are stamping their authority on the world oil market, but at the expense of relations within the cartel and the Middle East.
Lawrence Eagles
While gasoline was clearly the main driving force behind the market on Friday, there is little doubt that the Middle East tension also provides some upside momentum for crude.
Lawrence Eagles
Without any further word from Saudi Arabia about production, ... there is no reason to believe that we won't see prices move higher.
Lawrence Eagles
Whether OPEC chooses to make public the size of any output cut ahead of the ministerial meeting Nov. 14 is uncertain, ... But it may well choose to do so if prices remain weak.
Lawrence Eagles
There are clear signs at the moment that we are starting to see the impact of high oil prices on demand -- and that's being seen in many regions.
Lawrence Eagles
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