Andy Lipow on OPEC

facebook_page
twitter_page

Last quote by Andy Lipow on OPEC

The report was more good news for the oil industry as inventories declined across the board for crude and products by over 10 million barrels. Gasoline inventories are now nearly 5 per cent lower than this time last year. That is a reflection of good consumer demand.feedback
share this quote
Jul 19 2017
Automatically powered by Storyzy
Take our quote verification challenge and find out !

All quotes by Andy Lipow on OPEC

[Customers are] looking at other types of crude to fill the gap left by a reduction in OPEC production, and at the same time you're seeing continuing demand in China, as world oil continues to increase. That supports the price of crude and certainly helps the producers in the Permian Basin, Eagle Ford and elsewhere. Some of it for sure is making its way out to Asia. The infrastructure continues to get built out to export more and more crude oil. Not only have we built pipelines, but we built more export terminals. The industry continues to add infrastructure to support more exports.feedback

The oil price is reacting to the implementation of production cuts by OPEC And non-OPEC producers. Inventory statistics today showed products building across the board. If we're seeing not only inventories here but inventories worldwide increase there would be worldwide pressure on oil prices. It's clear it will pressure prices down but we have to see what happens with the rest of the world. You won't have to worry about running out of gas this summer.feedback

While OPEC may announce a freeze and a cut in production at the end of November, there has been a free for all among its members to produce as much as possible since the September freeze announcement. I think that in spite of whatever agreement comes out of Vienna at the end of the month, the market will be skeptical that OPEC can bring the self-discipline to its members to actually enact a substantial production cut.feedback

This "puts OPEC in an even tougher spot because they have to cut even more production to accommodate the resumption of sales out of Libya and Nigeria.feedback

I suspect over the next few weeks we're going to see inventories recover to a certain extent, as the imports catch up. There's still plenty of oil out there. What we're seeing is the result of storm impacts on vessel shipping at the same time we still see members of OPEC to increase their oil production.feedback

No quotes...
|< <
> >|

Quotes by Andy Lipow on OPEC

Quote Verifier
verify-icon
Check if the quote you read on social networks is authentic
facebook_page
twitter_page
This webpage has been created by a robot: errors and absent quotes cannot be totally avoided
 
Feedback×

Quote :

Mistake :

Comments :