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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Bid Buster who wrote (266111)11/6/2003 11:26:23 AM
From: MulhollandDrive  Read Replies (1) of 436258
 
fail to see the logic in your claim that opec wants oil in the low to upper 20's.
All opec wants to do is sell the most oil at the highest price it can get just like any other biz.




first of all it is not "my claim"

opec has stated publicly and repeatedly that the goal is for oil price stability, generally in the $22-$28 range

secondly

the opec cartel realizes that americans (their greatest market) pretty much despises (post 9/11) the fact the we are dependent of ME oil and any spikes in prices will only further the demand for alternative energy sources (which will happen in due course anyway, cheaper oil only prolonging economical feasibility )

so in one sense you are right "all opec wants to do is sell the most oil at the highest price it can get"

they do seem to understand what that price is

that being the mid $20/barrel range
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