The market is extremely hesitant to go below USD60 a barrel and that is because of the Nigerian outages for the most part.
The market is extremely hesitant to go below $60 a barrel and that is because of the Nigerian outages for the most part.
OPEC has been extremely accommodative in its policy in the last one and a half years.
The weather has become increasingly mild and the forecasts are for now much above normal, for example 17 (degrees Celsius) in Los Angeles -- this is extremely warm for the end of December.
Maintenance seems to be extremely high and there are spec changes in the United States. It's not that there are absolute shortages of products, but there is a concern about how much there is going to be.