Edmund Daukoru Quotes (20 Quotes)

Just rest assured, we are under obligation to the market to keep the market well supplied. We meet as often as it takes to micro-manage the short-term volatility.

If we decide that that is the way to go so that we can address our perception of the second quarter, we will take that decision now.

After Wednesday, the perception about safety in the region will change.

If we only followed strictly market analysis we should be doing some trimming of volume.

But mainly it's the threatening statements being made against Iran as a result of its nuclear program.

OPEC ministers, who were meeting through Sunday evening, have yet to reach an agreement. Some ministers suggested there was no need to put extra oil on the market. The market is well supplied - actually it is in balance, ... After Katrina, everybody offered crude but the refining capacity was not there to cope with it.

OPEC is not going to be the decisive action but we want to reassure the market by saying we have this extra capacity,

Prices have their ebbs and flows. We are concerned that prices don't get out of hand.

We know we are taking a risk. But it is not a world free of risks. We've taken a decision full of risks.

But there are simply too many geopolitical issues at this very time so we have agreed to roll over (production quotas) and to monitor closely if there are any further developments.

We've already played this gimmick, ... We want to play clean so we don't even raise the ceiling.

By a week's time, we can expect a development, and I think that will be positive.

We will collectively make a pledge to have the spare capacity available if needed, but I don't believe it is needed,

We hope that will assure the market. We are working on the exact wording.

I think those opinions are sincerely held, and the good thing about the Bush administration is that it's very outspoken. There is no fudging the issues.

Two of the onshore blocks are well into the interior of the country.

In the past two or three years, the demand drop in the second quarter had not been as bad as it had been much, much earlier.

That's what we have almost seen with China and India's demand.

We will really know from this where the constraint is and that's in the downstream, so nobody can blame OPEC. That's really the purpose of this,

The talk of an increase is mainly to give comfort to the market. It is refining capacity we have to worry about.