Fadel Gheit Supply Quotations

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.

We're still in a delicate balance, with people still concerned about a major supply disruption.

I guarantee $3-a- gallon gas all over the country if we have any supply disruption anywhere in the Middle East.

Barring any serious supply disruption, there is plenty of oil and prices could drop if the weather stays warm. But we have tremendous speculation in the markets driving prices, so there is no way to guarantee they will continue to fall.

The only thing keeping prices artificially high is the potential for supply disruption, ... Fundamentally, prices should be at $20-to-$25.

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.

There is no reason for the prices to fall when people are obsessed with the possibility of supply disruptions and the fact that prices are not slowing demand.

Oil prices have been exceeding the most bullish forecasts for the past year and a half, and that's not driven by industry fundamentals, but largely by speculation and fears of a potential supply disruption,

Demand continues to be relatively strong. Supply remains tight. And the global economy seems to be doing OK. As they say, no harm, no foul.

A lot of people were expecting that Saddam Hussein would pull a trick before year-end because he was trying to put pressure on the U.N. to lift sanctions or try to alter the position of the sanction, so he threatened two weeks ago to stop exporting oil, ... The traders panicked in anticipation of a supply shortage, but Iraq never stopped producing oil.

Also, the president is making speeches trying to talk oil prices down and say the situation is better, but talk won't change the underlying fundamentals. Demand is still strong, supply is still tight. So even if perception changes for a bit, the situation is no different.