I don't think 5 oil is sustainable in the long term. There will be a reaction from either the supply or demand side.
Doug Leggate
There is no shortage of actual physical supplies; what there is is a shortage of spare capacity.
physical
There seems to be a greater tolerance in the economy in terms of what can be withstood.
tolerance economy greater
reaction oil demand side
Any storm going through the Gulf is going to slow the pace of the recovery from Katrina.
storm recovery
It doesn't take long in this price environment for these deals to pay for themselves.
environment price
While stocks once again saw significant draws, the market's focus is currently set on seemingly weaker demand.
focus demand
We continue to view near-term sector weakness as more opportunity than risk as we head toward winter.
opportunity weakness risk winter head view
The second half of last year we started to see another list of projects in place. It is in a lucrative position with one of the strongest production profiles in the sector with very attractive margins as well.
place projects attractive
Evacuations have already started, which is going to disrupt production. Any storm going through the Gulf is going to slow the pace of the recovery from Katrina.
The dynamic shifted this year. There was a growing perception that supply was running out. The doomsday scenario that stated OPEC couldn't meet demand and the Saudis wouldn't be able to increase output gained traction.
perception growing running demand
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