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Michael Wittner Quotes

The oil is in the ground waiting to be exploited. But how do we get access to what is left? At the end of the day the drill bit has to hit the ground. - Michael Wittner

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Ground | Waiting | Exploited | Access | Left |

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The upstream and downstream constraints are real and long-term and we're seeing almost daily examples of them. We're going to have a very strong price environment until the steam is taken out of demand or until investment catches up and restores a spare capacity cushion to production and refining. - Michael Wittner

Last week's bearish and pessimistic mood was overdone, considering that almost 900,000 barrels per day of U.S. refining capacity was still down (pre-Rita), and that global product demand is forecast to increase by 3.5 million barrels per day between September and December. - Michael Wittner

It all points to strong prices. - Michael Wittner

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