China is the last standing consumer of oil outside of the U.S. The problem is that everyone is relying on them, as long as we keep in this scenario where China is the only real consumer to pick up the pace, we're going to see moves lower every time China has an issue with their economy.

Carl Larry

Categorized in : Company News

I think the wildfire is going to have a major impact as Canada exports some 3.5 million barrels per day of crude to the U.S., i'm not sure if we'll get back to $80 a barrel, but $50 and above looks likely.

It's going to take a move up to $55 before we see anyone plan new... by Carl Larry

It's going to take a move up to $55 before we see anyone plan new production.

The markets keep falling because globally, we're still oversupplied, but, the Middle East tensions still have people scared and they're not sure if they should continue going in and selling. Prices could jump very quickly.

The combination of the Chinese stock market rout and creeping crude glut is weighing on oil, that said, Brent's still seeing support above $50 and U.S. crude is staying above $45. There's a lot of hedging going on at those levels.

Everyone's trying to put the issues in Libya into perspective. by Carl Larry

Everyone's trying to put the issues in Libya into perspective.