Quote of the day
"If the US stats for the time being remain
bearish then ultimately there's less need to buy crude
from Nigeria, therefore the shutting-in of crude oil
there may not be that big a deal. Also, the market has a
lot of the situation there priced in anyway. I believe
alternative supply sources are being sought out all the
time as some oil companies are probably finding the
disruption costs are beginning to weigh on the
production."
A London-based broker said Thursday ahead of the US
weekly inventory report where analysts expect builds
in crude and product stocks thereby potentially reducing
crude demand for the foreseeable future.
See more industry/OPEC viewpoints at http://www.platts.com/Oil/Resources/Quote%20of%20the%20Day/
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