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More - Leo Drollas Quotes

Going by the cost of finding and developing oil today, there is no reason why the long-term price should be at $50-plus. - Leo Drollas Quotes

Going by the cost of finding and developing oil today, there is no reason why the long-term price should be at $50-plus.

The war drums are pushing the price [of oil] higher, but the global market has been tightening since the second quarter and this will continue into the winter. - Leo Drollas Quotes

The war drums are pushing the price [of oil] higher, but the global market has been tightening since the second quarter and this will continue into the winter.

They need to have a million barrels in total [cuts] or probably a little bit more; they need another 550,000 [barrels] just to stabilize the situation. This is damage limitation. - Leo Drollas Quotes

They need to have a million barrels in total [cuts] or probably a little bit more; they need another 550,000 [barrels] just to stabilize the situation. This is damage limitation.

If Iraq goes through with this it could push prices back to $35-$37 for Brent in which case the U.S. might have to step in and release more of their strategic reserves. - Leo Drollas Quotes

If Iraq goes through with this it could push prices back to $35-$37 for Brent in which case the U.S. might have to step in and release more of their strategic reserves.

Iraq

Frankly, we couldn't cope with the loss of Iranian oil. - Leo Drollas Quotes

Frankly, we couldn't cope with the loss of Iranian oil.

Prices should be below $60 really or heading downwards .... but we have Iran and we have the Nigerian problems. - Leo Drollas Quotes

Prices should be below $60 really or heading downwards .... but we have Iran and we have the Nigerian problems.

At last the IEA is doing something useful apart from the collection of statistics. Better late than never. - Leo Drollas Quotes

At last the IEA is doing something useful apart from the collection of statistics. Better late than never.

It's a PR exercise to prove to the consumer that OPEC actually likes them. It's not going to help the market at all. - Leo Drollas Quotes

It's a PR exercise to prove to the consumer that OPEC actually likes them. It's not going to help the market at all.

I don't think there's much chance of getting to the worst case. It would damage the Iranians as much as anyone else. - Leo Drollas Quotes

I don't think there's much chance of getting to the worst case. It would damage the Iranians as much as anyone else.

In the wet-barrel market - the real barrels that are stored and traded - there is no shortage of oil. But the paper barrels - the futures market - react like a lightning rod in a volatile market. That's their role. - Leo Drollas Quotes

In the wet-barrel market - the real barrels that are stored and traded - there is no shortage of oil. But the paper barrels - the futures market - react like a lightning rod in a volatile market. That's their role.

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