Quotes from the news wire:
We have seen some hedging but we haven’t seen an onslaught yet. As prices go up, hedging will increase.
Found on Reuters 3 years ago
It's the best outcome you could have expected. It puts a floor under prices at $60 Brent but (we're) still likely in a $60-65 Brent market until the global economy improves and then we could see $65 to $70 Brent in Q2.
Found on Reuters 4 years ago
They also need to convince Russia that the strategy of output cuts makes sense despite the loss of market share to the United States.
Found on Reuters 5 years ago
With budget needs at above $85 per barrel, the Saudis desperately need prices at above $70 per barrel, they also need to convince Russia that the strategy of output cuts makes sense despite the loss of market share to the United States.
Found on Reuters 5 years ago
There isn't a lot of spare capacity in the world. If we lose a million bpd of output from Venezuela and Iran in the fourth quarter, where will all these barrels come from? We are in for higher prices for longer.
Found on Reuters 5 years ago
It will be enough for now but not enough for the fourth quarter to address a decline in Iranian and Venezuelan exports, there isn't a lot of spare capacity in the world. If we lose a million bpd of output from Venezuela and Iran in the fourth quarter, where will all these barrels come from? We are in for higher prices for longer.
Found on Reuters 5 years ago
The Saudis trashed OPEC in Doha. But they realized they don't want to throw away decades of OPEC history and decided to be more cooperative.
Found on Reuters 7 years ago
There are times when you need OPEC and when you don't. You only need OPEC when you have major oversupply and OPEC doesn't want prices to crash any further.
Found on Reuters 7 years ago
These guys are not exactly getting along these days, oPEC is becoming far less important. We are entering an era when market management will be non-existent.
Found on Reuters 7 years ago
It is an end of an era when Naimi fought hard and struggled to create a price environment which would have been good for both consumers and producers, we are moving to a new era where OPEC will no longer be managing the market while supply and demand will determine the price. The new Saudi oil leadership believes the market will dictate the price and that means higher volatility. We will see higher highs and lower lows.
Found on Reuters 7 years ago
We are moving to a new era where OPEC will no longer be managing the market while supply and demand will determine the price. The new Saudi oil leadership believes the market will dictate the price and that means higher volatility. We will see higher highs and lower lows.
Found on Reuters 7 years ago
In everything Naimi did, he never wanted to repeat the Yamani mistake.
Found on Reuters 7 years ago
He was prepared to manage the market and cut only when he had reasonable partners, today, from the Saudi prospective, they have no allies.
Found on Reuters 7 years ago
We urge China to reaffirm that it has no plans to deploy or rotate military aircraft at its outposts in the Spratlys, in keeping with China's prior assurances.
Found on Reuters 8 years ago
They want $50 oil, this is going to become the new anchor for global oil prices.
Found on Reuters 8 years ago
Russian production is going down anyway, why not agree to a freeze and then cuts ?
Found on Reuters 8 years ago
They want $ 50 oil, this is going to become the new anchor for global oil prices, while it may not be an official target price, you ’ll hear them saying it. They’re trying to give the market an anchor.
Found on Reuters 8 years ago
This is going to put back pressure on crude, but you had an ongoing imbalance between supply and demand.
Found on Reuters 8 years ago
The Saudis have said they are ready to increase supply if there is more demand. So over the past months they got more demand and they supplied the market with additional crude, i think Saudi Arabia is comfortable with its current production volumes and is happy to restore market share. They are unlikely to go much above 10 million.
Found on Reuters 9 years ago
The Saudis are probably worried about everyone else reducing capex as a result of low oil prices and about non-OPEC output falling off a cliff at some point. We all know that supply disruptions are unpredictable but they are certain, the increase in Saudi rig numbers is like a signal to the industry - let's be rational. We will need supply growth in the future.
Found on Reuters 9 years ago
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