Every time the (oil) market tries to pick itself up, it's just another wave of selling. Gene McGillian More Quotes by Gene McGillian More Quotes From Gene McGillian I think you're continuing to get signs that demand growth is the primary drag on the market, with the disappointing manufacturing number that came out yesterday. Gene McGillian business There's a battle in the market right now between those who think we're going to see slowing economic conditions that will hit demand... and others (focused on) what's going on in the Persian Gulf as well as lowered output from the producers. Gene McGillian business I think it's pretty clear that tightening supplies and receding fears of demand growth is a boost to the market to these five month highs. Gene McGillian business We've witnessed this week a rekindling of worries about demand growth. Gene McGillian company-news We are going to have reduced supplies from Iran in six months and Venezuela hasn't shown that they can stop the drop in their supplies. Gene McGillian company-news If ConocoPhillips is successful, then it will limit the revenues PDVSA will have and give them even more problems paying their bills and producing their oil, venezuela seemed to get support over the last year from Russia and China. So now there's the question of what kind of deal will they have to make in order to get even more support? Gene McGillian business We continue to watch whether the fundamental picture continues to tighten. Gene McGillian company-news The uncertainty of the administration makes things very difficult. Gene McGillian company-news The market appears to be taking a lot of support from positive statements. But, this isn't the first time the Russians have come out and made remarks related to a production freeze being imminent. Gene McGillian company-news The key in finding the bottom of the market comes in a tightening of the supply side. Gene McGillian top-news I think we're getting ready for another round of capex cuts in North America. Gene McGillian top-news This looks like profit-taking as the end of the U.S. driving season gets closer. Gene McGillian company-news The dollar moved up again and the market focus is back on supply and the prospect for more Iranian exports after last week's agreement with the West over Iran's nuclear program. Gene McGillian energy It's a dollar driven day, with as much expectations riding on a continued draw in crude stocks. Gene McGillian energy The outflows we're seeing is people trying to take money off the table, things got too overextended, and some of the smarter guys are saying they should take some profits off and protect themselves. Gene McGillian company-news The Saudi escalation of its Yemen campaign is producing exactly the kind of geopolitical tensions oil is known to rally for, you also have the assumption that U.S. production will continue to decline from cutbacks in oil rigs count and exploration expenditure, though I'm not too much of a believer in such improving fundamentals. Gene McGillian energy Today's focus is on the absolute strength of the dollar and what that could mean for near-term interest rates in the United States, the rig count data hasn't mattered as much, frankly. Gene McGillian business Every time the market tries to pick itself up, it's just another wave of selling. Gene McGillian company-news We're continuing to search for a bottom, and might even see another significant drop before the year-end. Gene McGillian most-read-articles
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