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Fadel Gheit Quotes
«Speculators pushed the prices beyond even the most bullish estimates, because they exaggerated (supply shortage fears), but now I think we see the party's over.»
Author: Fadel Gheit
«This is evidence that we really don't have to worry about shortages,»
Author: Fadel Gheit
«Speculators have no reason to scare people with shortages. And you can see this because futures are dropping and prices will continue to drop,»
Author: Fadel Gheit
«The drop in prices correlates with unusually high temperatures in the Northeast,»
Author: Fadel Gheit
«The market always overreacts. That's the nature of the beast. There's tremendous speculation both on the way up and on the way down,»
Author: Fadel Gheit
«The damage from Hurricane Rita has been significantly underreported.»
Author: Fadel Gheit
«When gas prices rise then discretionary driving is curtailed. People will think twice. I was just down south and everybody I talked to was carpooling.»
Author: Fadel Gheit
«I think OPEC is showing tremendous strength in keeping oil prices firm, but they cannot push it much further. If they do, they will have to contend with things that they do not want in the long run, like possible economic troubles.»
Author: Fadel Gheit
«OPEC really cannot extend this period much longer. OPEC wants to do what I call a soft landing, by easing supply back into the market slowly and not causing any shocks.»
Author: Fadel Gheit
«I would not be surprised to see oil prices lose momentum over the next week or so, especially before the OPEC meeting. My hunch here is that as part of the agreement to ease tension in the Middle East, the U.S. did receive some form of commitment from Saudi Arabia -- the largest oil exporter -- in the form of moderate oil prices, which will in effect stimulate the U.S. economy. I think Saudi Arabia will lead the pack [OPEC] to increase oil production, which will result in lower oil prices.»
Author: Fadel Gheit
