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

More Quotes by Gene McGillian
Categorized in : Business
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 gr... by Gene McGillian

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
We continue to watch whether the fundamental picture continues to... by Gene McGillian

We continue to watch whether the fundamental picture continues to tighten.

Gene McGillian
company-news
The uncertainty of the administration makes things very difficult... by Gene McGillian

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... by Gene McGillian

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 No... by Gene McGillian

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 seas... by Gene McGillian

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 c... by Gene McGillian

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 (oil) market tries to pick itself up, it's just an... by Gene McGillian

Every time the (oil) market tries to pick itself up, it's just another wave of selling.

Gene McGillian
company-news
Every time the market tries to pick itself up, it's just another... by Gene McGillian

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
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