Oil demand growth outside (industrialized countries) has been weaker than expected and that is where a lot of the new consumption is coming from.
More Quotes from Neil McMahon:
The two best things about this recipe, ... are that it's really easy and it doesn't use the word 'roux.'Neil McMahon
The size of the buybacks and the relatively low percentage that is being reinvested in the industry would tend to indicate that oil companies don't have enough new upstream opportunities and projects to spend their money on.
Neil McMahon
You go check your bank account. Works for me.
Neil McMahon
We think these messages are at odds with the comments normally made to investors regarding future oil prices and the ability of producers to meet demand, and we wonder if perhaps those messages are actually a better indicator of the companies' thinking.
Neil McMahon
I believe (the report) indicates that 4.5-5.0 gross domestic product growth rate forecasts look too high, and it makes it harder to justify support for 60 oil.
Neil McMahon
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