Oil rebounds bringing Asian stocks down

Discussion in 'Economics' started by bapunagar, Sep 26, 2006.

  1. Oil shares were bound to go up again because the demand and supply is steady. The other reason why oil saw a good day yesterday was because it is speculated that the OPEC (Organization of Petroleum Exporting Countries) may cut the supply to stem any price slump before the group meets in December.

    So in fact few of the Asian markets saw a decline in stocks over the concern that rising oil prices could deter consumer spending.

    I feel that it is possible for the oil price to be somewhere around $61 - $62 a barrel for today , as oil looks optimistic and oil shares are again gaining attention.
  2. Hope so. Need an exit on HOC. Just need Gold to go up and I'll be set.