The 4 million barrels per day cut announced by OPEC in past 2 months did not help Crude Oil price to rise/soar. The GM and Chrysler bail-out news did not help Crude Oil price to rise. GM & Chrysler are heavy-car manufacturers & their cars consume lot of gas. Also worldwide consumers have not increased Oil consumption now inspite of Crude Oil reaching $40. Today Crude Oil did not soar from "high - tensions" in Israel - Palestine conflict and India - Pakistan conflict. Crude Oil is DEAD and will never go above $25 per barrel
Ummm. You do realize the OPEC 2.2 million cut doesn't take effect till January 1. Oil's up 2 on the Israel news. I'm siding with Stock_Trad3r on this one. Go back to starting worthless rumors.. You seem to be better at that.
Russia has massive undiscovered/untapped Oil reserves that can feed world's Oil demand for next 40 years. China also has huge undiscovered/untapped Oil reserves. Also there are alternative fuels such as Electric cars, Biofuel & others.
What about the 2 million barrels cut announced by OPEC 1 or 2 months back. Crude Oil has been falling continuously for past 40 - 45 days.
I think 5% or 10% of "Oil money" from gulf countries goes to Taliban and Al- Qaeda as financial help. "Oil money" is used for developing multi-billion dollars "Dubai real estates". I think 5% or 10% of "Dubai Real estate money" also goes to Taliban and Al-Qaeda as financial help. It is very important that Crude oil always remains at $15 or $20 per barrel, so that minimum finance is available to Taleban & Al-Qaeda from "Oil money".
here we go again....you and your crazy ass assumptions What you think and what the market does are two separate things.
it's 38 right now, but aside from that look at a monthly chart and tell me its not going to bounce...