The concern which I and a lot of others have is that the Dubai market does not reflect the true market price of Middle East crude with this kind of action. Oystein Berentsen More Quotes by Oystein Berentsen More Quotes From Oystein Berentsen Once the product tanks are full..., then you know that the situation is bad. You have to cut runs. Oystein Berentsen energy Once the product tanks are full, as they are now, and you even have floating product storage in places like New York harbor, then you know that the situation is bad. You have to cut runs. Oystein Berentsen company-news Potentially it is supportive of the oil market as it may increase imports and reduce exports of products. However, the devil is in the detail so we need a clearer picture. Oystein Berentsen energy Crude cannot go up without support from products, and that support is not there at the moment, and more refineries are coming out of turnarounds so there will be more products and tanks are getting full. Oystein Berentsen energy Asia has overcapacity in refining, so that's ruining margins, japan is exporting and product stocks are still building. In China, new refiners are exporting as much as they can, so they're flooding the market. At some stage, the refining overcapacity will have an effect on crude. Oystein Berentsen top-news The market has suddenly started to focus on bullish headlines. This has created huge inflows, buying from hedge funds. Oystein Berentsen most-read-articles Chinese oil companies have become the new power houses in oil trading. Oystein Berentsen company-news No doubt, U.S. dollar is a key factor that is driving the oil price down. Oystein Berentsen energy The party (of past high oil prices) is over, at least for the next two to three years. Oystein Berentsen energy The weather is very mild with reduced demand for heating oil. Oystein Berentsen business Land storage capacity is now limited but OPEC keeps increasing production so the oil price is relentlessly trending down. Short-term further pressure can be expected. Iran may return to the market in January which is causing concern of increasing oversupply. Oystein Berentsen business The market is very weak as the weather is very mild with reduced demand for heating oil. Oystein Berentsen company-news Land storage capacity is now limited but OPEC keeps increasing production so the oil price is relentlessly trending down. Short-term further pressure can be expected and rallies will be sold. Iran may return to the market in January which is causing concern of increasing oversupply amid a mild winter. Oystein Berentsen company-news The flat curve is related to the shale oil boom. The back of the curve is broken because of producers selling as soon as curve prices edge up. They need the cash, especially shale and medium-sized producers. Oystein Berentsen energy The trend is ... down. It looks very bearish. Oystein Berentsen energy The trend is your friend, and the trend is down. It looks very bearish, we've seen more producers selling, even at these low prices. Oystein Berentsen energy Platts should be seriously concerned as I am sure they want a fair market price, and the Dubai market now seems to become dysfunctional. Oystein Berentsen company-news
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