23 Quotes by Antoine Halff
- Author Antoine Halff
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If we have colder-than-normal weather, we'll see a bit of a shock to the economy, ... I plan to put a sweater on at home.
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If it's not rhetoric it's an effort to recapture the share of the oil cut that they gave away to deep conversion refiners,
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If it is rhetoric, it is to balance the perception that that they are responsible for the high prices.
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Heightened geopolitical risk profoundly changes the meaning of fundamentals.
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Overall, I think it sent the right message. But at the end of the day, the physical impact of the IEA release was much less than you would have expected. A lot of the market adjustment came from other sources than IEA countries.
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Refinery activity has been very depressed because of damage caused by hurricanes last year and deferred maintenance. There was a huge surge in imports after last year's storms but that has ended. At the same time refinery activity has not recovered.
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We have an economy that has shown signs of slowing. With energy prices at extremely high levels -- and now moving above those levels -- this is kind of a double whammy,
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The decision to meet again in a few weeks shows that OPEC's price appetite is pretty robust.
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While surging high imports likely allowed total U.S. gasoline stockpiles to start rebuilding in the week ended April 28, it may take time for depleted East Coast stocks to reach desired levels ahead of the peak summer driving months.
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