At the end of the day, the Middle East is going to be China's premium source of supply for crude. |
Crude will rise next week on saber-rattling in Nigeria and the UN Security Council meeting. |
For Indonesia to continue to develop its oil and gas resources and to step back into the role of a true net exporting country and replace their position in OPEC this is a pretty important deal for them to close. |
I think OPEC realizes that China is an extremely important customer moving forward. This is about relationship building. |
I think OPEC realizes that China is an extremely important customer moving forward. This is about relationship building. |
Oil markets have been a bit irrational in the past week or two with long-term supply concerns affecting short-term prices. Iranian oil exports are unlikely to ever be restricted and certainly not anytime soon. |
Our whole goal is to get 100 percent compliance from all counties. |
Since mid-2004, the government refinery-gate reference price has diverged from import parity economics. The gap has been rising ever since. |
The real fear is an extended outage. We have notable capacity reductions in the U.S. Gulf Coast production, refining and distribution system. |
These people are receiving a return that is commensurate with the risks. What's going on is a concern for foreign investors and we're seeing maybe a bit of resurgence in unrest. |
We are in for higher prices than we had through the 1990s. |