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People are looking to product spec changes and the disruption that will be caused by product spec changes. - Craig Pennington Quotes

People are looking to product spec changes and the disruption that will be caused by product spec changes.

Craig Pennington

With oil prices at $60 a barrel it was a foregone conclusion they were not going to cut. If you do see disruption from Nigeria, if you do see disruption from Iran, the oil price will go substantially higher from here. So OPEC is reluctant to start turning the taps off just now. - Craig Pennington Quotes

With oil prices at $60 a barrel it was a foregone conclusion they were not going to cut. If you do see disruption from Nigeria, if you do see disruption from Iran, the oil price will go substantially higher from here. So OPEC is reluctant to start turning the taps off just now.

Craig Pennington

We had a warm start to the winter but now it is starting to look a bit ugly. The focus will be on cold weather for some time to come. - Craig Pennington Quotes

We had a warm start to the winter but now it is starting to look a bit ugly. The focus will be on cold weather for some time to come.

Craig Pennington

The past couple of days have been based on one entity's view of what January's weather will look like and that hasn't been enough to establish a price trend. - Craig Pennington Quotes

The past couple of days have been based on one entity's view of what January's weather will look like and that hasn't been enough to establish a price trend.

Craig Pennington

If we get a normal winter, we'll probably have enough inventories, but if we get a very harsh winter, inventories could collapse to unseen levels. The oil market would be very jittery with any supply disruptions. - Craig Pennington Quotes

If we get a normal winter, we'll probably have enough inventories, but if we get a very harsh winter, inventories could collapse to unseen levels. The oil market would be very jittery with any supply disruptions.

Craig Pennington

There is an increasing challenge for OPEC next year. If you look at what people expected last year, non-OPEC supplies have disappointed and demand has been stronger. The result has been in OPEC's favor. But next year will be tougher. And they will not want prices to drop below $50 a barrel. They will need to cut production. - Craig Pennington Quotes

There is an increasing challenge for OPEC next year. If you look at what people expected last year, non-OPEC supplies have disappointed and demand has been stronger. The result has been in OPEC's favor. But next year will be tougher. And they will not want prices to drop below $50 a barrel. They will need to cut production.

Craig Pennington

It doesn't matter that the government opens the strategic reserves because there is very little slack in the refining business. - Craig Pennington Quotes

It doesn't matter that the government opens the strategic reserves because there is very little slack in the refining business.

Craig Pennington

A bit of the premium in the oil price on Iran has been taken off today. - Craig Pennington Quotes

A bit of the premium in the oil price on Iran has been taken off today.

Craig Pennington

The oil market has been driven by speculators, by hedge funds, by pension funds and by commodity indexes, but the fact of the matter is that it's mostly been driven by the fundamentals. Prices are supported by the fact that there is no spare capacity. - Craig Pennington Quotes

The oil market has been driven by speculators, by hedge funds, by pension funds and by commodity indexes, but the fact of the matter is that it's mostly been driven by the fundamentals. Prices are supported by the fact that there is no spare capacity.

Craig Pennington

The expectation for an inventory build is built in across all the product areas with an outside risk of a surprise on heating oil. - Craig Pennington Quotes

The expectation for an inventory build is built in across all the product areas with an outside risk of a surprise on heating oil.

Craig Pennington

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