18 Quotes by Bruce Evers

BP has been badly affected by the hurricanes. People expect BP to beat the consensus and when they come in below, people do not like it.

BP has been badly affected by the hurricanes.

Crude stocks were broadly in-line, but distillate and gasoline were better than expected, but that was not a surprise given the incredibly mild weather recently in the States.

There's plenty of geopolitical issues to concentrate the mind.

Demand continues to rise against a backdrop of stagnant supply. It's going to be a very interesting summer.

Companies haven't assessed the damage fully and it may be that refineries stay shut for months. The European Union is moving crude and products to the U.S., but at some point it's going to have to replace that, leading to higher demand in a marketplace that is already very tight.

The weather is very mild in the US so the builds in stocks are not a huge surprise.

It is very cold in Europe. The US is still quite mild but northern Europe is very cold.

It's still fears over further disruptions in Nigeria, and the Iranian situation continues to bubble underneath the surface. Whatever OPEC says, the market is unlikely to pay much attention. They lost control of the market last year, and to cut production with oil near $70 would be irresponsible.