(Prices) should be lower for lots of reasons this year. ...I'm not sure that will happen. |
A large proportion of the remainder will be (refined) products ... we have suggested they prioritize products, |
A supply disruption could trigger a release, but it is too early to say. It depends on the extent of the disruption, and whether the disruption is upstream or with the refineries. |
Any increase in OPEC production will be a good signal to the market and would be welcome, |
Both have decided to build strategic stocks and we hope to reach an agreement on coordination. |
But governments can't do everything at the same time, as they won't have enough money left for research and development. |
expect those policies to be dropped. |
I am struck that there is some demand destruction related to both high prices and logistic constraints, |
I am struck that there is some demand destruction related to both high prices and logistic constraints. |
I can tell the negotiators, please, when you consider all the options, do not be constrained by the risk of an oil embargo on Iranian oil. |
I think that is part of the answer, ... But what I expect most is a clear time table for when they will bring on more capacity of light sweet crude in the coming months. |
I would not say that they, OPEC, are responsible for all of it. We consumer countries are in responsible in part, |
If any supply disruption occurs again we can make a speedy decision, |
If any supply disruption occurs, I am sure we can take again a very speedy decision (to release oil from emergency reserves). |
If something happens in relations with Iran, we have the tool to overcome any supply disruption. |