Roger Diwan Quotes (8 Quotes)

We have lost a lot of supplies at a time when we were very vulnerable. How high prices go will depend on how quickly refiners can get back on.

OPEC is an anachronism today. This is not a market where suppliers have to manage any spare capacity. They cannot manage the short-term risk, which is going to be on the upside. What we're seeing here is a demand shock, but everybody is looking to OPEC as if it were a supply shock.

This was a big reminder of how tight the system is. And what Katrina did is make the system even tighter going forward.

Iran is going to make a political point.

Ivan had a long, lingering effect because of the damage it caused and because it hit the market with a perception - and a reality - of a lack of supplies. In that sense, it heightened the fear of hurricanes this year.

You have all the elements to push the price up high demand, tight supplies, tight refining capacity, interruptions in supplies, geopolitical tensions, Iran, Nigeria, etc.. The upside is bigger than the downside, so the money is piling in.

Gold prices don't go up just because jewelers need more gold, they go up because gold is an investment. The same has happened to oil.

It's purely rhetorical. In order to have these oil contracts, you have to have a lot of people invest in them and most of those people are in places such as New York and London.