Last week's bearish and pessimistic mood was overdone, considering that almost 900,000 barrels per day of U.S. refining capacity was still down (pre-Rita), and that global product demand is forecast to increase by 3.5 million barrels per day between September and December. -Michael Wittner

 

Last week's bearish and pessimistic mood was overdone, considering that almost 900,000 barrels per day of U.S. refining capacity was still down (pre-Rita), and that global product demand is forecast to increase by 3.5 million barrels per day between September and December.


Comments

There are not yet any comments on this quote. Why not register / login and be the first?



This quote is just one of 8 total Michael Wittner quotes in our collection. Michael Wittner is known for saying 'Last week's bearish and pessimistic mood was overdone, considering that almost 900,000 barrels per day of U.S. refining capacity was still down (pre-Rita), and that global product demand is forecast to increase by 3.5 million barrels per day between September and December.' as well as some of the following quotes.

Last week's bearish and pessimistic mood was overdone, considering that almost 900,000 barrels per day of U.S. refining capacity was still down (pre-Rita), and that global product demand is forecast to increase by 3.5 million barrels per day between September and December.

Michael Wittner
228

It still comes down to all the refinery outages in the United States. It still looks very bullish.

Michael Wittner
149
The main market driver, as we head into winter heating season in the Northern Hemisphere, will be the massive outage of refining capacity in the U.S. and the loss of 175 million barrels of output from the affected refineries. -Michael Wittner
138

There is underlying caution, even on the part of Saudi Arabia, about the second quarter. I wouldn't rule out the potential for bullish language about a possible cut in March or April.

Michael Wittner
135

The oil is in the ground waiting to be exploited. But how do we get access to what is left? At the end of the day the drill bit has to hit the ground.

Michael Wittner
110
Winter heating oil and gas oil stocks are comfortable right now, but we've lost a lot of refining capacity in the U.S. It's amazingly bullish. That's the bottom line. -Michael Wittner
109

It all points to strong prices.

Michael Wittner
98