“But of course, what the eagle does not realize is that it is participating in a very crude form of natural selection.One day a tortoise will learn how to fly.”
“I think that what we may be seeing is the realization that if crude is not the problem, then we can't justify prices at $60 a barrel.”
“Sorry to be crude but we did not pick these prices out of our nose.”
“It's not necessarily a good thing to have a build in crude. It means refineries did not get up and running as quickly as hoped. It's a disturbing trend heading into winter.”
“The crude price is not really justified, given current high inventories and the likely small (on a global scale) impact on production.”
“Also refinery utilization was lower, which was also unexpected. It means that refineries are not using as much crude, so as a consequence of that we got a larger-then-expected crude build.”
“The (crude processing) figure is a little bit lower than we had expected, but it is not radically surprising.”
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