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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (69615)	9/11/2006 8:03:06 AM
From: Wyätt Gwyön	Read Replies (1) of 110194

this is interesting--OPEC getting ready to cut output because they think oil is too cheap, LOL. since the US fascists would get angry if they announce a formal cut, they are going to "just do it". you go, girl. remember, just three short years ago when oil hit $36 thanks to the American invasion of Iraq, Saudis promised oil would go back to its natural range of $22-26. online.wsj.com Some OPEC officials say cartel members are prepared to continue letting their output fall informally if price declines and market dynamics further reduce demand for oil. Such action, they say, is preferable to a formal decision to reduce quotas. That is because a move to formally reduce output quotas could invite a backlash from consumer countries. A barrel of crude oil is still fetching close to $67 a barrel in New York, triple what it was three years ago, at a time when economic growth is slowing in the U.S., which consumes about a quarter of the world's petroleum.

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