Short interview with Conrad Gerber (Pertologistics).

In a brief interview on the Swiss French radio this morning Conrad Gerber made some comments on the oil situation. ME violence’s, speculations, China and India’s consumption, but noting about peak oil.

Conrad Gerber from Pertologistics made some comments on the oil situation in an interview on the Swiss radio.

I translated it from French:

(Please apologies for my broken English)

Gerber thinks oil price can stay at 35$ to 40$ if the situation in ME stays quiet for a while. If violence rises again, price could go up to more than 50$.

Gerber said that companies have not anticipated the growth of China and India demand.

Gerber agrees with OPEC about speculation pushing up the prices.

Some ME country keep the reserves figures as a secret and don’t wand experts look to close at those numbers. He also has doubt about Saudi’s figures and thinks OPEC is producing at maximum capacity.

Companies stopped exploration with oil at 10$ so there is a lack in finding new fields. He said ME country maybe do not want so much exploration to keep the prices up.

The US government is trying to stabilise prices to lower levels to assure the re-election of GWB.

OPEC will decide at the next conference in September to maintain high levels of production because world demand will be very high on 4th quarter.

Gerber, not surprisingly, said noting about peak oil..

Original interview in French here:

http://real1.xobix.ch/ramgen/rsr/infonet/2004/08/info-20040825-0758-b.rm