Gene McGillian - Tradition Energy

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Last quote by Gene McGillian

We've continued to see signs that the market needs a steady drumbeat of positive information. This week's DOE report where gasoline demand dropped to its lowest since March gave a little pause to that.feedback
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Oct 20 2017
Gene McGillian has been quoted 38 times in 28 different articles. On this page, you will find all of Gene McGillian’s quotes organized by date and topic. Alongside each quote is a link back to the article where the quote was reported, so you can go back to the source for more context if you need it. Topics that Gene McGillian speaks about are OPEC and Saudis, for example. Most recently, Gene McGillian was quoted in the article Oil prices dip on profit-taking and U.S. production fears saying, “The question is if demand and the supply cut are enough to offset the increase in (U.S.) production that's coming.”.
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Gene McGillian quotes

Jun 19 2017

$3 seems to be the pivot area, but within 15 cents, the market does have a lot of fluidity.feedback

Jun 19 2017

When you look at basically Chicago to Boston in the next two weeks, you don't seen any hot weather. We have the next two weeks in June, not hot, and you're actually seeing a little bit of July that's not hot.feedback

Jun 09 2017 - Nigeria

The drop (in gasoline demand) a week after Memorial Day demoralized the market.feedback

Jun 01 2017 - Nigeria

The worry is that you have rising output in the U.S. and that's going to offset cuts.feedback

May 31 2017 - Nigeria

There are really mounting concerns about the excess supply in the world and the ability of the agreement to whittle that down. We're getting Libya, Nigeria and the North Sea poking their heads up. Are the bears really going to be convinced as we approach the $45 area that they were going to be in a position to see global inventories going down?feedback

May 24 2017

It looks like they're not going to increase it. The initial reaction in the market we think will be supportive. Until you see inventories drop down to reasonable levels, the market is going to have trouble, especially where you have to consider other areas of production coming on line.feedback

May 04 2017 - OPEC

I think the market is telling us without a guaranteed extension, we have too much oil around. Once we get the guarantee of six months, we'll see if the market really ignores it. Are they putting their foot back in the trap? They're getting gmore aggressive about ramping up their drilling with all that production they're bringing on. If it wasn't for the reduction in supply coming in from the global producers, instead of $50 oil, you could be talking $30.feedback

May 04 2017 - OPEC

The market continues to hunt for a bottom. We've dropped to a five month low.feedback

May 01 2017 - OPEC

The market continues to hunt for a bottom. With four months of the cutting in effect we haven't seen a sizable reduction in global oil fuel inventories. It's not sizable enough to see some proof, and the market is having trouble holding most of its gains since 2016.feedback

Apr 19 2017 - OPEC

There's a lot of talk the [OPEC] agreement is going to be extended, but we have a full month to go before the [OPEC] talks are held. I think the real thing is without signs the production cuts are really impacting global inventories the market has trouble holding up near the upper end of the trading range. The market has a hard time sustaining itself within striking distance of the year's highs.feedback

Feb 16 2017

I think a lot of the lack of winter has been priced in. We are expecting increased demand from the export sector and also increased industrial demand this year, and the export LNG and Mexican pipeline are basically the two drivers. Industrial demand is only expected to be up a couple hundred bcfs. We're reaching levels where it's uneconomic to run coal plants and that should pick up gas demand.feedback

Feb 16 2017 - Mexico

This is all new. Last year for LNG, we didn't export liquefied natural gas, and Mexico pipeline natural gas, you go back five years and it was very small.feedback

Dec 28 2016

We're up 65 cents in less than two weeks, all on that call for the return of colder weather. I think the market might have gotten ahead of itself.feedback

Nov 02 2016 - OPEC

It's a pretty clear case of where we're going to be testing the $40 mark.feedback

Sep 14 2016

When you look back at how high gasoline inventories remain after what was a record driving season, if crude oil prices come under pressure, gasoline prices will remain with them. I don't know how you could make a case for gasoline prices to rise when inventory levels are where they are.feedback

Sep 14 2016

I think there's a realization there doesn't seem to be any change by the Saudis coming, at least that people can bank on.feedback

Sep 14 2016

The idea that [oil] is going to crater before the election, I don't know that that's a real strong possibility. It looks like we're getting ready to test that $43 low we made. If we get below that, there's higher odds we could push toward $40.feedback

Sep 14 2016

The headlines that seem to be getting the most attention are they're worried about demand growth.feedback

Sep 08 2016

If you get another increase or a bigger increase than people are expecting, I would think oil would turn around on the idea that producers are going back to the fields.feedback

Sep 08 2016 - OPEC

I think we'll see more volatile trading ahead of the OPEC meeting.feedback

Sep 08 2016

I think that's what's happening since it looks like the drop in crude imports takes a lot of mystery out of why we see this massive drop in inventories.feedback

Sep 08 2016

I think you need to see more than one week of this to get worries about oversupply out of the market.feedback

Sep 07 2016

If it's accurate, I think it will start to ease fears of oversupply in the market. There's apprehension of crude restocking as we exit the gasoline season and we exit strong demand.feedback

Aug 31 2016

I think the idea they will have a production freeze agreement is dwindling.feedback

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