35 Quotes by Kevin Norrish

Whilst the immediate impact on European energy prices has been negligible, the dispute has served to emphasize the dependence of Western Europe on Russian gas supplies and the issue has the potential to keep European gas consumers on edge for some time.

There are not enough firm projects on stream to meet 1.5 million bpd (demand growth).

We would expect the potential for further chaos in Nigeria to provide a floor for prices above $60, and we expect that Nigeria will continue to be a major issue in terms of supply security.

This supports our view that crude prices will soften as we move through the summer months.

Weather continues to be the key short term factor determining energy price direction.

With plenty of crude oil available to the market at present and some OPEC members signaling that lower oil prices may be acceptable to the group, the stage may well be set for further tests of support over the coming weeks.

With global inventory still at extremely low levels and particular concern over low product and crude oil inventory in the U.S., there is little obvious sign of any significant weakness.

What we are seeing is not a function of the world running out of oil. What we are seeing is the legacy of a very long period where investment has been far too low. The problem is getting the oil out of the ground and delivering it to consumers.

There's still going to be concern about potential hurricanes in the market for a few months. Crude output and refining are so tightly stretched that you don't need a big disruption to put the system under a lot of pressure.