George Beranek Quotations

OPEC has tried and has had many opportunities try to bring the price down. At this point most OPEC member countries don't have much spare capacity. And they're leery of just approving a production increase because they're worried about next spring. What happens when all this oil is lying around and the demand goes down?

Generally, they're in fine condition, considering what they've been through.

There is really not much you can do in the short term.

Ultimately you will end up with a larger SPR.

It also helps that Chinese contractors tend to do the work on their projects.

This is really pulling out the big guns. If you think about it, this is working at the margin with a very large volume, so it's going to have a very pronounced price effect.

A surge in U.S. demand could effectively raise the price for spot LNG cargoes, affecting the price in Japan and other countries.