They have to get ordsprog
They have to get compliance in order. With six million barrels a day of spare capacity they don't have any credibility in the market unless they can control spare capacity,
Gary Ross
There isn't the spare capacity to make up for the missing production in the Gulf of Mexico. OPEC used to have 4 to 5 million barrels of spare capacity. That's down to about 1.5 million barrels a day this year.
Craig Pennington
There isn't the spare capacity to make up for the missing production in the Gulf of Mexico. OPEC used to have 4 to 5 million barrels of spare capacity. That's down to about 1.5 million barrels a day this year.
Craig Pennington
We are up above $60 because of Iran. If something happened in Iran we would be in trouble because there isn't enough spare capacity to make up for the loss. If there was 3 or 6 million barrels of spare capacity there wouldn't be this kind of reaction.
Sarah Emerson
Today there is a very thin layer of insulation in the oil market amounting to approximately one million barrels a day, meaning that every small disruption, be it a hurricane in the Gulf of Mexico or riots in Nigeria or instability in the Middle East, immediately creates a rise in prices. This situation will be with us for a long time because there is no new spare capacity. Building spare capacity requires an investment of billions of dollars to create infrastructure that may sit idle most of the time. Nobody will invest on those terms,
Gal Luft
It is an excellent gesture from OPEC to provide 2 million barrels a day of spare capacity to the market, ... If the market feels it needs additional crude, they're welcome to it. It's there.
Ali Naimi
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Jennifer Green
Italien
In our outlook we only have two million barrels per day of spare capacity, most of which will be in Saudi Arabia and most of which will be sour. We continue to see that as a pretty tight market.
Guy Caruso
With less than 2.0 million barrels of spare production capacity, even with higher-than-average supply of oil, the margin of error in the world oil market has never been thinner. And with worries about possible supply disruptions in Iran, Nigeria and Venezuela and another hurricane season ahead of us, traders are betting that it's likely something is going to go wrong.
Phil Flynn
This is really much more important than OPEC supply as their spare capacity is largely heavy and sour and the real shortage is capacity to upgrade such fuels anyway.
Gerard Burg
This is really much more important than OPEC supply as their spare capacity is largely heavy and sour and the real shortage is capacity to upgrade such fuels anyway,
Gerard Burg
At the moment, there's nothing we can do. OPEC has spare capacity. However, whatever we do, there is no sensitivity in the market,
Purnomo Yusgiantoro
At the moment, there's nothing we can do. OPEC has spare capacity. However, whatever we do, there is no sensitivity in the market.
Purnomo Yusgiantoro
The market is perfectly well supplied at the moment but spare capacity is very limited.
Claude Mandil
We have a consensus that we want to put before the conference. We want to share the availability of the spare capacity with the market,
Edmund Daukoru
Even before Katrina we felt the market was on edge, a very tight market, with very little spare (refining) capacity anywhere along the chain.
Doug MacIntyre
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