Oil companies can see the winds have shifted even with Republicans in control of Congress. The White House is reeling. All of a sudden the industry does not have the strong backing it had six months ago.

Fadel Gheit

Congress Control Oil Republicans

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Oil companies can see the winds have shifted even with Republicans in control of Congress,

— Fadel Gheit

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Right now it's a squeeze play for oil industry, ... But if they can get by from here to February, I think the coast is clear.

— Fadel Gheit

This is an industry in crisis. Every oil company will reduce their production forecast as lower spending will immediately be followed by lower production and lower reserve replacement.

— Fadel Gheit

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The drop in prices correlates with unusually high temperatures in the Northeast.

— Fadel Gheit

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If we don't have a particularly cold winter, we won't see prices rise dramatically.

— Fadel Gheit

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