Posted
6:35 AM
by Gene
The world's friendliest oil company, BP, is shutting down Prudhoe Bay for extended maintenance, and the wolves are out:
A 400,000-barrel per day reduction in output would have a major impact on oil prices, said Tetsu Emori, chief commodities strategist at Mitsui Bussan Futures in Tokyo.
""OIL PRICES COULD INCREASE BY AS MUCH AS $10 PER BARREL GIVEN THE CURRENT ENVIRONMENT!!!!!!!!!!" Emori said. [Overemphasis added.]
Such folks are as unhappy as GREG when he discovers a WAR CRIME. On the other hand:
Victor Shum, an energy analyst with Purvin & Gertz in Singapore, said he expected the impact to be minimal.
"The U.S. market is actually well-supplied; crude inventories are very high," he said.Honest...we expect financial sales -- ANALYSTS to be honest?