Matt Smith

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Last quote by Matt Smith

It seems as if we're in a new paradigm now at least for the foreseeable next few months, promoted by the wide WTI-Brent spread.feedback
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Oct 05 2017 Oil
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Matt Smith is associated, including OPEC and U.S.. Most recently, Matt Smith has been quoted saying: “We were seeing exports getting close to a million barrels per day even when the spread was nearly half of what it is now. It seems as long as our spread remains above three or four dollars, we're going to see a million barrels-per-day-plus exports.” in the article US oil exports will keep booming after hitting record 2 million barrels a day, analysts say.
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Matt Smith quotes

Sep 04 2017 - Rohingya

There are enormous numbers of people arriving. The Myanmar military is basically clearing out all of the Rohingya Muslim villages in northern Rakhine state. People are desperately in need of shelter, of food, of clothing. There are a lot of people right now sleeping under the rain, in the mud. State security forces have been killing men, women and children. They have been slitting throats, there have been beheadings. Soldiers have opened fire on groups of people and then set the bodies on fire, including children.feedback

Aug 28 2017 - Human Rights

Suu Kyi's inflammatory propaganda is fuelling anti-Rohingya and anti-aid worker sentiment at a time when she should be doing everything in her power to instill calm and promote human rights.feedback

Aug 27 2017 - Mexico

It's a completely different world now than 2008 in terms of crude and products flows.feedback

Aug 11 2017

U.S. distillate export loadings continue to go from strength to strength.feedback

Aug 09 2017

Today's bullish draw to crude inventories has been somewhat negated by a solid build to gasoline.feedback

Aug 02 2017 - Brexit

One accusation that some have levelled at remainers is that they want to see economic harm come to Britain, either to avert Brexit or out of sheer vindictiveness for having lost the referendum.feedback

Jul 28 2017 - Oil

From a technical perspective, it seems as though this rally should be done.feedback

Jul 08 2017 - OPEC

The stream of relentless supply continues.feedback

Jun 27 2017 - OPEC

That's been the trend of OPEC loadings all year: move to compliance and move out of it from an export perspective.feedback

Jun 27 2017 - Singapore

None of those three are showing signs of a materially tightening market. I think the global market is showing signs of strain simply because you've got floating storage off Singapore and Malaysia close to the highest levels of the year. They're not dropping. In fact, they're tipping higher.feedback

Jun 08 2017 - Nigeria

If we see those come closer to parity then that will stop those exports, that will keep more crude in the U.S. and then we keep prices around these kind of mid-40s levels.feedback

Jun 08 2017 - OPEC

I think we get too much buying interest coming in because there's demand coming through.feedback

Jun 01 2017 - OPEC

We didn't see that high a volume. We're not sure the methodology of the EIA. We saw it a little bit lower. We saw it at 850,000. We track the Gulf Coast cargoes and some flows by pipeline as well. We're seeing it at about 850,000, all told. the EIA export number is fairly good when it's averaged out. On a week-to-week basis it is extremely volatile. It's potentially due to an extra cargo or two that bumped up that number.feedback

May 26 2017 - Burma

This isn't going to spell the end for extremist monks affiliated with Ma Ba Tha. They're still mobilizing, they still have a sizable following, and they're still attempting to influence the minds of young people.feedback

May 13 2017

How can I save them when I'm lost in the dark?feedback

May 05 2017 - OPEC

It's all about this meeting on May 25, and so they'll be going into that meeting knowing that they have cut exports by far more than they said they would. [They'll] go in there and bang the table and try to get everyone else in line.feedback

May 05 2017 - Oil

Breaking through that sort of long-term trend line has really just forced this waterfall of sell orders to come in, and that's why once we broke those levels we saw a huge sell-off overnight.feedback

May 03 2017 - Oil

It has been another fairly uninspiring report for the bulls.feedback

Apr 26 2017 - Oil

From our perspective, the crack spread – the profitability of refining crude products – has just dropped below year-ago levels and yet we're seeing refinery runs hitting an absolute high last week of over 17.3 million barrels a day, and so it is a concern.feedback

Apr 08 2017 - Burma

Entire villages were razed. Children were thrown into fires. Suu Kyi's denials and failure to provide a shred of moral leadership to deal with the situation is a really damning revelation of her character.feedback

Mar 30 2017 - Oil

What we're seeing at the moment is the building of a base.feedback

Mar 24 2017 - Saudi Arabia

Our projections do not support the comments coming out of Saudi Arabia. The conclusion really is that even though we're seeing lower arrivals in the coming weeks from Saudi Arabia arriving on U.S. shores, we'll see those imports picking up at the end of April and early May back to normal levels. It seems like it's just one more way that they have of trying to calm fears in the market.feedback

Mar 16 2017

What's interesting about him is that he has always spoken his mind and has never been afraid to say what he thinks and was certainly in the early days a bit of an outsider, a bit of a maverick. And to a certain extent he still is. He has always been a forward thinker. He's always telling [the Queen] 'let's think outside the box.feedback

Mar 15 2017 - OPEC

So prices have just kind thrown in the towel in the last week. I think we'll get a bounce here in the short term today. We're seeing lower imports and a draw coming through. We're bouncing from key support now. It'll depend over the next couple of months whether OPEC implements those cuts.feedback

Mar 14 2017 - OPEC

It's shaping up to be another fun week in the crude complex, with OPEC releasing its monthly oil market report on Tuesday, swiftly followed by the IEA's monthly oil market report the day after.feedback

Mar 09 2017 - Singapore

It's not unsurprising to see a build at this time of year, it is seasonal, but to see a build of this size really did surprise the market. Floating storage off Singapore reached an all-time high in February. We started to see Singapore floating storage dropping off last month from that record high of 60-million barrels, but we saw it rebound last week. As long as we see 60-million barrels floating offshore in Singapore, it is just indicating that the market is still oversupplied and is not absorbing all this oil.feedback

Mar 09 2017 - Singapore

Now that the contango has narrowed, there is much less incentive to store oil at sea. That makes Singapore floating storage all the more interesting.feedback

Mar 08 2017 - OPEC

It's really been like a kettle boiling for the last few weeks in terms of having traded in a very tight range. There's been this pressure building form a technical perspective. As that happens, as that pressure builds, we tend to pop violently.feedback

Mar 08 2017

Crude stocks were bolstered by rebounding imports, while both gasoline and distillates draws were exacerbated by higher implied demand.feedback

Feb 21 2017 - OPEC

As bullish positioning by hedge funds continues to push on in unchartered territory, the risk of a swift, sharp snapback in prices continues to build. Especially given the bearish backdrop of record crude and gasoline inventories amid lower fuel demand year-on-year.feedback

Jan 11 2017

China is experiencing colder-than-normal conditions, demand has kicked higher and prices have followed.feedback

Jan 11 2017

We have had a triumvirate of bearish builds from today's report. Counter-seasonal strength in refinery runs have boosted product inventories, while stronger imports have bolstered crude stocks.feedback

Jan 05 2017

The large crude draw can entirely be explained away by the 7.1 million-barrel draw to Gulf coast inventories, as tax mitigation strategies meant crude cargoes remained offshore, rather than being brought onshore, where they would be taxed.feedback

Jan 04 2017 - Kuwait

Really, these guys have been going hell for leather here, pedal to the metal, before screeching to a halt as they try to reach compliance. It's the most transparent way we have to see if they're adhering to the production cuts, given they depend upon these exports for revenues. They would be the last thing to be cut.feedback

Jan 03 2017 - Rohingya

I'd say this video throws a stick in the spokes.feedback

Dec 27 2016 - OPEC

Emerging market demand, and specifically from China, has been really strong in 2016. However, they've been on these sort of bouts of bargain hunting and opportunistic purchases to essentially fill their stockpiles, their strategic reserves. And so, as prices rise, and as they've risen recently, we're likely to see less of that bargain hunting next year.feedback

Dec 14 2016

Mixed fleet crew earn just over the minimum wage and below the national average.feedback

Dec 09 2016 - OPEC

Recently, due to the OPEC decision, that has blown that spread out again and that will only further serve to incentivize higher exports.feedback

Dec 09 2016 - OPEC

It is still in testing the phase. The export ban was lifted last last year, and since then, we're seeing this evolution of the U.S. export industry, as there's this period of exploration to figure out how best to get these exports out, how to make this work economically.feedback

Dec 08 2016 - OPEC

That's 200,000 barrels that will be coming to market that someone else will have to cut to balance the market.feedback

Dec 07 2016

The solid builds to the products, despite being a seasonal trend, are helping to usher the crude complex lower.feedback

Dec 01 2016 - OPEC

The key to all of this is really is whether these cuts will be implemented. That is the big question.feedback

Nov 30 2016

Crude inventories have yielded a modest surprise draw in this week's report, led by a big drop in crude inventories on the East coast amid lower imports - even though refinery runs also dropped off.feedback

Nov 30 2016

The report is fairly neutral; mildly bullish crude, modestly bearish for the products.feedback

Nov 23 2016 - OPEC

On the whole, the report is a welcome distraction from OPEC talk, but fairly neutral on the whole.feedback

Nov 22 2016

They're clawing some of that market share from others, but they're also helping to fill that gap of increasing demand.feedback

Nov 22 2016

You think that prices dictate flows, but when it comes to China, it's such a large part of the market, it's the other way around. Their demand dictates prices.feedback

Nov 22 2016

The lifting of the U.S. export ban meant that WTI [crude oil] came back in line with other global benchmarks. Combine this with falling production from Bakken [shale formation], and it became more economical for U.S. East Coast refiners to import Nigerian crude rather than domestic crude by rail economics.feedback

Nov 02 2016

Most of the large exporters in the world have all been increasing exports in the last month, and this crude has to go somewhere. Even though U.S. production is ticking higher again, we're still seeing strong imports.feedback

Nov 02 2016

We are likely to get some sort of positive rhetoric out of the group. Saudi is trying to push for some sort of agreement, and should we get that, we should see a bit of a bump in prices.feedback

Nov 01 2016 - Netflix

(Morgan) allows you to peak behind this royal veil that we all are aware of...and that's really engaging emotionally and interesting.feedback

Oct 20 2016

Going forward, we should see refinery runs starting to increase, these refineries coming out of maintenance, and then a return to imports and a return to builds.feedback

Oct 11 2016

Until we get some actual physical barrels being taken off the market or we get some actual levels put in place, then it is just words and no action.feedback

Oct 05 2016

We are already seeing gasoline cargoes being redirected for the East Coast – both to avoid the storm, and to fill the supply loss after.feedback

Sep 19 2016

So you see false indicators to demand when people fill up tanks due to shortage fears and that adds another layer of complexity.feedback

Sep 15 2016 - Burma

This decision was hasty and fails to recognize political realities on the ground.feedback

Sep 15 2016 - Japan

I think it puts you deeper inside a game, deeper inside a universe or a situation that you've never imagined before.feedback

Aug 10 2016 - Olympic Games

It's much more stressful when we have unfair wind.feedback

Aug 08 2016 - Kuwait

OPEC members including Venezuela, Ecuador and Kuwait are said to be behind this latest reincarnation. But just like previous endeavours, it seems doomed to fail, given key OPEC members (think: Saudi Arabia, Iraq, and Iran) persist in their battle for market share, ramping up exports apace.feedback

Aug 02 2016

Speculators increased their shorts by the biggest volume on record... for WTI crude..., dragging the net long position in WTI to its lowest since February. Another bearish development from the CFTC data has been gasoline positioning. Speculative positions in gasoline have moved to a record net short position as hedge funds bet on an ongoing gasoline supply glut.feedback

Aug 01 2016 - Singapore

I see it going lower from here. We have this glut here in the U.S. not only in crude but for products, as well. We're actually at record inventories for the two of those.feedback

Jul 26 2016

Ongoing fears of oversupply are encouraging hedge funds to liquidate their recent record bullish position; at the same time, we are also seeing a corresponding increase in speculative short positions.feedback

Apr 27 2016

Bullish momentum from a technical perspective, in cahoots with dovish Fed rhetoric, has this market on fire again despite the crude inventories we're seeing.feedback

Apr 20 2016

Distillates are the standout bullish element of the report and gasoline is the disappointment.feedback

Apr 18 2016 - Qatar

The material loss in production from the Kuwait strike has helped the oil market forget about the farce from Doha.feedback

Mar 31 2016

Who is actually going to be there to buy this stuff? If there's a legitimate party, they are going to demand a significant discount.feedback

Mar 30 2016

The data poses a bit of a conundrum, in that crude stocks still increased so much despite strong refining runs and an apparent drop in imports.feedback

Mar 08 2016 - Kuwait

The comments out of Kuwait have encouraged the sell-off and it appears likely that a focus on weekly oil inventories will encourage prices lower.feedback

Mar 01 2016

It still feels like this is a sucker's rally. We've pushed higher on more talk and less action on supply balancing.feedback

Feb 09 2016

The IEA report was a bearish blow, followed by the EIA report, which sings from the same hymn sheet.feedback

Jan 06 2016

Geopolitical tension presents the greatest upside risk to the crude market, at least through the first half of the year.feedback

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