52 ordspråk av Edmund Daukoru

Edmund Daukoru

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There is nothing like an absolute price level. You cannot decree an absolute price; everything is subject to market forces, and market forces cut both ways.

Anything in the high $50's or low $60's isn't a case for cutting output.

OPEC is not going to be the decisive action but we want to reassure the market by saying we have this extra capacity,

[OPEC ministers, who were meeting through Sunday evening, have yet to reach an agreement. Some ministers suggested there was no need to put extra oil on the market.] The market is well supplied - actually it is in balance, ... After Katrina, everybody offered crude but the refining capacity was not there to cope with it.

We will really know from this where the constraint is and that's in the downstream, so nobody can blame OPEC. That's really the purpose of this,

We are so far from worrying about quotas, ... I think for now OPEC will be happy for any member who has the capacity, to produce.

We are so far from worrying about quotas, ... I think for now OPEC will be happy for any member who has the capacity to produce.

We are so far from worrying about quotas. I think for now OPEC will be happy for any member who has the capacity to produce.

We are so far from worrying about quotas. I think for now OPEC will be happy for any member who has the capacity, to produce.

With prices over US$60, really I don't see a reason to cut production. It's pretty hard to see why we should cut.

In the past two or three years, the demand drop in the second quarter had not been as bad as it had been much, much earlier.

If we decide that that is the way to go so that we can address our perception of the second quarter, we will take that decision now.

Those arguing for a cut will have to defend their case and we will listen to each of them and reach a compromise.

When we get to the point where Iran has to shut production, if they do, then we take it from there. We don't want to speculate.

By a week's time, we can expect a development, and I think that will be positive.

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