I don't think even OPEC likes to see prices at these levels. It's not in their interest.
More Quotes from William Ramsay:
The U.S. can't isolate itself from global markets so whether it buys its oil from the Middle East or not it will be exposed to the same supply conditions of the market and the same price conditions of any other importer.William Ramsay
But this particular incident is probably going to raise questions that maybe some product stocks would be in order. I'm not sure that anyone anticipated the kind of devastation we've seen in those refineries.
William Ramsay
As Indonesia confronts its subsidies, and as other countries begin to move prices closer to market levels, it takes some of the incentives for smuggling out.
William Ramsay
The good news is that China, India and Indonesia don't much like pollution either... but they've got to deal with the politics of energy development and pricing,
William Ramsay
I think Russia has made a serious mistake. It has demonstrated its willingness to use its gas as a political and economic tool.
William Ramsay
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