“This move will not solve the real problem - the oil cannot be refined. Even before the loss of 1.8 million barrels per day of output refineries were struggling to keep up with demand. So increasing the crude supply will not overcome this bottleneck.”
“The fact MEW did not fully correct the large Q2 increase supports our view that conditions in the housing market are improving and that this will, at some point, lead to increased household consumption.”
“The ECB have already indicated that they will look through the volatility of the GDP data and, like us, are quite positive on the growth prospects in the euro zone during the first half of 2006.”
“It's indicative of strong underlying demand for housing relative to supply and it's supportive of the view you will not get a major correction in house prices.”
