Tamas Varga

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Last quote by Tamas Varga

It is widely believed that OPEC and non-OPEC nations will roll over their production until (end) 2018. If they don't, or if the period will be shorter than nine months, I think we will see even lower prices. Brent would break back below $60 a barrel.feedback
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Nov 16 2017
Tamas Varga has been quoted 31 times. The two most recent articles where Tamas Varga has been quoted are Oil falls 2 percent on rising U.S. output, global demand concern and Oil near two-year highs as tightening market woos buyers. Most recently, Tamas Varga was quoted as having said, β€œThe recent price support, namely the tension in the Middle East, has been swept aside as rising rig counts and U.S. shale output (are) in the focus of traders.”.
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Tamas Varga quotes

Mar 09 2017 - OPEC

The market went into a meltdown yesterday. The risk is now tilted to the downside. Lower numbers are not a foregone conclusion yet, but bears are in control.feedback

Feb 07 2017 - OPEC

The general perception is that OPEC is cutting production, which is supporting prices, but high stock levels, rising rig counts and growing U.S. production are capping gains.feedback

Sep 20 2016 - OPEC

I would not be surprised to see some short-covering in the second half of this week just ahead of the informal OPEC meeting.feedback

Sep 13 2016

Given the bearish fundamental backdrop, yesterday's strength is not expected to be long-lived. Maybe this is what we are already seeing this morning with the two main crude oil futures contracts trading ... lower.feedback

Aug 23 2016 - OPEC

The current price level of well over $40 does not provide non-OPEC producers with any kind of motivation to support oil prices by cutting or maintaining current production levels.feedback

Aug 04 2016

Maybe the surprise drawdown in gasoline inventories helped future prices remain stable but that does not change the fact: the U.S. is flooded with oil.feedback

Jul 28 2016

U.S. commercial stocks are a good reflection of the oversupplied nature of the global oil market.feedback

Jul 27 2016

Today's weakness is just part of the general belief that the market is oversupplied.feedback

May 19 2016 - Nigeria

The late sell-off we saw in the last half an hour of trading yesterday is being followed through this morning as hints from the Fed about a possible rate hike next month sent the dollar index soaring.feedback

Apr 26 2016

I think there is a downside correction due, but it's all about timing.feedback

Apr 19 2016

The Kuwaiti strike is supporting prices.feedback

Apr 04 2016

If we draw a line and add up the stance of these countries, we have to conclude that a meaningful deal is only a distant possibility.feedback

Apr 01 2016 - Iran

Hopes have been running high about the potential bullish impact of the planned OPEC/non-OPEC production freeze but it is hard to see how sticking to the January output level would be supportive for oil prices. There will be no re-balancing this year.feedback

Mar 01 2016

Oil prices are up due to the Chinese reserve ratio requirement cut and reports on a dropping oil production.feedback

Feb 25 2016

The underlying fundamentals are still bearish and the market is reacting this morning.feedback

Jan 27 2016

The draw in distillate stocks is bullish, but we know there was cold weather in the United States in the last week, so I would say the reason behind the draw has something to do with the cold winter weather and, as such, the impact should be short-lived.feedback

Jan 22 2016

There is no fundamental justification whatsoever to think that the current downtrend is changing. All one has to do is look this month's report from the IEA to see that, especially the first half of this year, the market is going to be oversupplied.feedback

Jan 19 2016

It seems to be a healthy upside correction in an otherwise downtrending market.feedback

Jan 05 2016

It is the Chinese stock market sell-off and the strong dollar that are pressuring oil.feedback

Jan 06 2015

When the Saudis are cutting prices, the markets are not going to go higher.feedback

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