JPMorgan Regional Head of Oil and Gas Research Scott Darling says they are cautious on oil and expect some lowering of earnings and growth expectations from the markets.

SHOWS: HONG KONG, CHINA (JANUARY 27, 2015) (REUTERS - ACCESS ALL)

1. SLATE, READING (English): 'THE OPEC SECRETARY GENERAL EXPECTS TO SEE A REBOUND SOON IN CRUDE? WHAT ARE YOUR VIEWS AND DO YOU EXPECT TEMPORARY REBOUND?'

2. JPMORGAN, REGIONAL HEAD OF OIL AND GAS RESEARCH, SCOTT DARLING, SAYING:

'JPMorgan's view is that at least for the near term we expect OPEC policy to remain, particularly Saudi Arabia with its new King Salman. We think the oil policy for the kingdom will continue as it is i.e. letting the oil market or supply/demand dynamics actually start to unwind. Let some of the higher cost producers start to pull back.'

3. SLATE, READING (English): 'WHERE DO YOU SEE CRUDE OIL PRICES HEADING NOW?'

4. JPMORGAN, REGIONAL HEAD OF OIL AND GAS RESEARCH, SCOTT DARLING, SAYING:

'Well it is a very difficult question but certainly in the near term particularly as we come into March we see more downside risks to current spot prices. We will gradually go into refining maintenance season where you can see incremental demand get pulled and we are not really seeing, apart from U.S. rig count moderation a substantial change in oil output from various oil producers around the world.'

5. SLATE, READING (English): 'HEDGE FUNDS BETS CONTINUE TO POINT TOWARDS FURTHER WEAKNESS....OTHER THAN WEAK DEMAND, WILL FINANCIAL MARKETS CONTINUE TO PUT PRESSURE IN PRICES?'

6. JPMORGAN, REGIONAL HEAD OF OIL AND GAS RESEARCH, SCOTT DARLING, SAYING:

'We have always looked at financial markets as very much providing the froth to the oil market. On a fundamental supply/demand outlook we think that the market is oversupplied this quarter by around 1.6 million barrels per day and potentially in the second quarter around 1 million barrels per day. So JPMorgan's view is it is still fundamentally driven market and at the moment there is limited signs that we are seeing a substantial supply side response to lower oil prices.'

7. SLATE, READING (English): 'WHAT RISKS DO YOU SEE TO LOW CRUDE PRICES?'

8. JPMORGAN, REGIONAL HEAD OF OIL AND GAS RESEARCH, SCOTT DARLING, SAYING:

'JPMorgan is being cautious on the oil sector. We actually see further risk to earnings cuts for some of our coverage not just for this year but also 2016. We are already around 30 percent consensus for some of our names. So you could see as you come into the earnings some of the risk around impairments, also lowering of earnings expectations and also growth expectations from the market as well for some of the oil names.'