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Strategies & Market Trends : Heinz Blasnik- Views You Can Use
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To: Wyätt Gwyön who wrote (192)4/17/2003 4:21:54 PM
From: GraceZ  Read Replies (1) of 4912
 
What keeps the lid on the Saudi's (who have the lowest lifting cost, biggest supply and control prices) is that higher oil prices make the swing producers profitable and therefore brings in extra supply. This reduces the ability of the Saudis to keep the OPEC members in line. Higher prices get everyone cheating. There is a good reason that two days after 911 you saw a picture of George Bush shaking hands with Putin. The Russians threaten the Saudis control over oil production, the only way they can be kept in line is by holding the price of oil just above the Russian operating costs, in fact holding below their cost sends their operations into mothballs. A higher price brings on supply from all kinds of places that weren't profitable at a lower price.
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