We reiterate our buy rating, as we believe the upside potential is greater than the downside risk from sharply lower oil prices given the strong demand, tight supply and lack of spare capacity.
Basically, it was a great period for traders - some of them made a lot of money and some of them lost a lot of money.
The volume of lost production will be significantly greater than that lost under Ivan. Not one company that was affected has been able to restore its production 100 percent.