Fadel Gheit Market Quotations

Given the current market fundamentals we expect average prices for both oil and gas this year to be significantly above 2005 record levels. As a result, we expect 2006 earnings to be above 2005 record levels.

OPEC really cannot extend this period much longer. OPEC wants to do what I call a soft landing, by easing supply back into the market slowly and not causing any shocks.

OPEC really cannot extend this period much longer, ... OPEC wants to do what I call a soft landing, by easing supply back into the market slowly and not causing any shocks.

We could see the market getting tight in the event that we have a really cold winter.

As long as oil prices remain high, oil stocks will continue to outperform the market in general.

It's market perception that moves the market, and the perception is negative,

A rise in oil prices is not good news for the equity market or the economy.

The market always overreacts. That's the nature of the beast. There's tremendous speculation both on the way up and on the way down,

The easing of the tensions in the Middle East has calmed down the oil market and there appear to be no immediate plans to conduct military action against Iraq. So that has eliminated the second point of worry,

The market is therefore focused on two things: No additional supplies coming from OPEC. The other factor is that we should be entering what is a high demand period for oil products with the start of the summer season,