Andy Lipow on OPEC

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Last quote by Andy Lipow on OPEC

The world simply can't afford to see that lost supply because we can't make it up from the other OPEC and non-OPEC producers.feedback
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Oct 13 2017
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All quotes by Andy Lipow on OPEC

I think that OPEC is hoping they can wait it out so they don't have to make a decision in May to continue with production cuts, but they may be forced into that decision given the high inventories here in the U.S.feedback

The big bet is that OPEC/non-OPEC complies with the cuts and inventory draws. If over the next few months inventory surveys show little in the way of confirming the cuts, back to the mid $40s we go.feedback

[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

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Quotes by Andy Lipow on OPEC

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