Adam Sieminski
Adam Sieminski
higher industry level overall product
We should have an overall higher level of distillate product - This should give the industry a breather.
higher industry level overall product
We should have an overall higher level of distillate product -- This should give the industry a breather.
period shut
If the 400,000 were to be shut down for a significant period of time, then OPEC would have to reassess what they were going to do at the meeting.
damage deal few gas great move natural next products refined tight
There is still a great deal of damage that will keep natural gas and refined products tight for the next few months. The next move will be back up.
busy crude few needed oil people platforms problem repair saving
Crude oil isn't the problem right now but may be in a few weeks. The helicopters that are needed to get repair crews on the platforms are busy saving people from rooftops.
cyclical economic global potential recession sooner
The potential for a cyclical downturn in 2008-09 -- or sooner if we have a global economic recession -- is realistic.
barrel believe defend floor inclined ministers near oil per
We believe that the oil ministers are inclined to defend a $55 per barrel floor in the near term.
despite downs east middle oil punish relationship tend ups
Are we going to punish the Saudis? Two-thirds of our Middle East oil comes from Saudi Arabia, and despite the ups and downs of the relationship with Saudi Arabia, they tend to be our friends.
good improving production prospects short
One-third of the production in OPEC is deteriorating and doesn't have very good prospects of improving in the short run.
cars paying recycle start
Let's get the high-consuming cars off the road, start paying for them and recycle them -- put them in a crusher.
help oil releasing running unless
It's not going to be of much help unless we get refineries running again. Releasing oil from the SPR right now would be actually inappropriate because there would be no place to put it.
badly biggest damage facilities impact knowing port south
The biggest impact may be damage to the port facilities south of New Orleans. We have no way of knowing now how badly they are damaged.
chances difficulty gasoline great high hitting prepared prices region storm translate
This is going to translate into $3 gasoline for everyone and prices may go higher. The chances of another storm hitting the region are pretty high and we just aren't prepared for it. Refineries are already having great difficulty getting back up and running.
barrels concern exports extremely half iran iranian million nigeria people per
Iran and Nigeria have got people extremely nervous. There's a concern that around two and a half million barrels per day of Iranian exports could be removed.