In the wet-barrel market - the real barrels that are stored and traded - there is no shortage of oil. But the paper barrels - the futures market - react like a lightning rod in a volatile market. That's their role.

Leo Drollas

Related Quotes

Frankly, we couldn't cope with the loss of Iranian oil.

— Leo Drollas

The war drums are pushing the price [of oil] higher, but the global market has been tightening since the second quarter and this will continue into the winter.

— Leo Drollas

Going by the cost of finding and developing oil today, there is no reason why the long-term price should be at $50-plus.

— Leo Drollas

It's a PR exercise to prove to the consumer that OPEC actually likes them. It's not going to help the market at all.

— Leo Drollas

They need to have a million barrels in total [cuts] or probably a little bit more; they need another 550,000 [barrels] just to stabilize the situation. This is damage limitation.

— Leo Drollas