“OPEC is going to have to go back to some supply management again if they are going to hold a (price) floor. It should be easy for them to manage, it's not like they have to cut a lot they will still be at high output levels.”
“I think sanctions that impact oil flows from Iran are very unlikely. The Chinese are major importers of Iranian crude and they would not be too happy to see that.”
“We're in a world that faces serious problems with political stability in several key regions. People want to hold more supplies closer to home, and that's going to keep demand high for purchasing imported barrels.”
“We had a huge US crude build and OPEC said they're going to just keep pumping at high levels, so between the two of those it's pretty easy to understand the sell-off.”
