RSS Updates
Email Updates
The people at OPEC don’t seem to worry about an interruption of oil supply at all, whether it is from the weather or falling production from large countries like Indonesia. The cartel has no plan to increase output. Oil at $115 is just fine.
Libya’s oil minister even went so far as to say that the market was "oversupplied".
According to Bloomberg, "Oil prices may rise later this year because of the expected increase in demand during the Northern Hemisphere winter."
If OPEC holds the line and Gustav cuts Gulf output, the auto and airline industries will have an unpleasant second half of the year.
Douglas A. McIntyre
Buzz up!
Digg
Fark
Facebook
Tip'd
Tweet This
