Bruce Evers Quotations

World producers need to bring another 1 1/2 million barrels per day on line every year to meet rising demand. So even a minor supply disruption is going to have a disproportionate impact on oil prices.

One doesn't see the Nigerian situation getting any better anytime soon. There is plenty for people to focus on. People just don't know which way markets are going to break.

Numbers were below consensus because they had a big impact from the hurricanes and the closure of Texas City. These were events outside their control.

If they cut, it will send the wrong signal to the market and send prices up a couple of dollars.

I don't expect it will come down very much further. What we've seen over the last couple of years is if there's any meaningful sell-off, people buy the dips aggressively.

There is ample crude around. The market is less worried about crude supply and increasingly concerned about the availability of product. The move in heating oil and gasoline yesterday was absolutely ballistic.

It is amazing. I still don't see where the inflection point is - the point where (oil) prices start to affect demand and growth. Maybe in two months' time we will start to see the impact.

The problem isn't a lack of crude. You don't consume crude, you consume petrol, heating oil, diesel. If you don't have the refineries to do that, then we've got a problem.

With oil prices over 60.0 dollars, it is not necessary, particularly with Nigeria losing about 500,000 barrels per day.

BP has been badly affected by the hurricanes. People expect BP to beat the consensus and when they come in below, people do not like it.

BP has been badly affected by the hurricanes.

Crude stocks were broadly in-line, but distillate and gasoline were better than expected, but that was not a surprise given the incredibly mild weather recently in the States.

There's plenty of geopolitical issues to concentrate the mind.

Demand continues to rise against a backdrop of stagnant supply. It's going to be a very interesting summer.

Companies haven't assessed the damage fully and it may be that refineries stay shut for months. The European Union is moving crude and products to the U.S., but at some point it's going to have to replace that, leading to higher demand in a marketplace that is already very tight.

The weather is very mild in the US so the builds in stocks are not a huge surprise.

It is very cold in Europe. The US is still quite mild but northern Europe is very cold.

It's still fears over further disruptions in Nigeria, and the Iranian situation continues to bubble underneath the surface. Whatever OPEC says, the market is unlikely to pay much attention. They lost control of the market last year, and to cut production with oil near $70 would be irresponsible.