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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: kollmhn who wrote (5015)11/12/2001 8:57:45 AM
From: The Ox  Read Replies (1) of 206244
 
Until OPEC stops cheating (by almost 1 million bpd), Iran's demand for non-OPEC producers to "cooperate" will fall on deaf ears. With the global recession taking a bite out of economic activity combining with falling oil prices the incentive to cheat is very high for most producing countries. It's pretty hard to justify pointing the finger at others when you're guilty of the same action. It's going to take a combination of discipline by all producing countries plus a colder than normal winter to support higher oil prices, IMO. Either that or a disruption of oil flow from "the war" to jolt the prices upward in the short term.
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