DEMAND LAGGING WILL EVENTUAL
RECOVER IN A COUPLE YEARS.
>> BRIAN BRENBERG JUMP?
BRIAN: ANDY CAN YOU TALK
ABOUT RESTART DOWN IN TEXAS
FOR SOME OF THESE REFINERIES
HARDEST PART MOST RISK YOU
SHUT SOMETHING DOWN START UP
AGAIN, WE ARE SEEING HIRE
TEMPERATURES THE HOPE IS
THINGS GET BACK TO NORMAL BUT
REFINERIES THERE ARE A LOT OF
PLACES, WHERE THE COLD CAN DO
DAMAGE, I COULD GET FIRES HOW
LONG BEFORE YOU SEE THAT
REALLY RAMPING UP, TO WHERE IT
WAS BEFORE ALL THIS STARTED?
>> WELL, LIKE THE CONSUMER
REFINERIES DEPEND ON
ELECTRICITY NATURAL GAS AND
WATER, WE START OPERATIONS, WE
ARE ALREADY SEEING SOME
RESTARTS OVER IN THE PORT
AUTHOR AREA THERE COULD BE
DAMAGE PIPES CRACK, COOLING
TOWERS ICE OVER AND CHANCE I
WOULD EXPECT FROM TODAY, GOING
TO BE ABOUT TWO WEEKS TO
RESTORE THE MAJORITY NORMAL
OPERATIONS.
GOOD NEWS GASOLINE DIESEL
INVENTORIES AROUND THE COUNTRY
ARE RATHER HIGH WE ARE ALREADY
SEEING LOTS OF DPLAEN STATIONS
HERE IN HIGHS TON AREA
REOPENED, SO THE CONSUMER
SHOULD NOT PANIC ABOUT SUPPLY.
MARIA: SO WHAT ARE YOUR
EXPECTATIONS FOR THE PRICES
THIS YEAR?
GOLDMAN SACHS I RAISING ITS
ESTIMATE ON BRENT, WHERE DO
YOU SEE CRUDE OIL IN 2021?
>> WELL, I THINK I AM A LITTLE
BIT MORE CIRCUMSPECT THAN
GOLDMAN SACHS I DO EXPECT
PRICES RISE TO 55 AND 0
DOLLARS FOR BRENT THAT WE ARE
GOING TO SEE COMPLIANCE FROM
OPEC PLUS WAY DOWN AS WELL AS
ADDITIONAL RECOVERY IN SHALE
INDUSTRY I EXPECT BY THE END
OF THE YEAR CERTAINLY SEEING
BRENT 65 DOLLARS, WTI AROUND
62.
AS WORLD ECONOMY CONTINUES TO
RECOVER.
MARIA: ALL RIGHT.
WE WILL LEAVE IT THERE ANDY
GREAT TO TALK WITH YOU THIS MORNING THANKS SO MUCH.