OPEC not opening the flood gates was final nail in the coffin of the US economy last summer. They didn't need increase production, just could have said they were increasing production.
OPEC blames the US for the "economic crisis"! Now they're trying to get Russia to join their manipulating, price fixing cartel. if reasonable profits had been pursued, instead of using their money influences to drive the supply price up the demand amount, this economic crisis might not have gotten so bad!
The Energy Information Administration tells us, Our current forecast assumes that a recovery in global economic activity begins sometime in the second half of 2009. If this timing assumption proves to be correct, then world oil prices should begin to rise gradually later this year. The onset of a price increase is dependent upon this assumption, and a slower or later recovery would delay it. A safe assumption. Look for lower prices soon.
OPEC not opening the flood gates was final nail in the coffin of the US economy last summer. They didn't need increase production, just could have said they were increasing production.
OPEC blames the US for the "economic crisis"! Now they're trying to get Russia to join their manipulating, price fixing cartel. if reasonable profits had been pursued, instead of using their money influences to drive the supply price up the demand amount, this economic crisis might not have gotten so bad!
CruizMkts 2 years ago
The Energy Information Administration tells us, Our current forecast assumes that a recovery in global economic activity begins sometime in the second half of 2009. If this timing assumption proves to be correct, then world oil prices should begin to rise gradually later this year. The onset of a price increase is dependent upon this assumption, and a slower or later recovery would delay it. A safe assumption. Look for lower prices soon.
saberEffX 2 years ago
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newyorkfriend2009 3 years ago