OPEC is not working this time.
Why? Is this a world-wide force to be against US? Does this mean they don't have to listen to US any more? 08 is too soft and no one is scared of us anymore?
A second question is, how much is the surpass of oil supply? Are we going to run out of oil pretty soon? Then, the oil price will shoot up really fast by big number.
Some authorities seemed to agree with me ---
Why? Is this a world-wide force to be against US? Does this mean they don't have to listen to US any more? 08 is too soft and no one is scared of us anymore?
A second question is, how much is the surpass of oil supply? Are we going to run out of oil pretty soon? Then, the oil price will shoot up really fast by big number.
Some authorities seemed to agree with me ---
Nor is it certain that this fall in oil prices will endure. Morgan Stanley said the over-supply in the market is “vastly overstated”.
Much of the immediate glut is due to a supply surge of 800,000 barrels a day in Libya after export terminals were reopened over the early summer following a truce by tribal militias. This truce is already unravelling. Output has dropped by 400,000 barrels a day since September.
“Libya is getting worse by the day,” said Alastair Newton, head of political risk at Nomura. “Iraq is producing at the top of its band, and Russia’s output always goes down in the winter for weather reasons. The 2m barrel surplus could disappear in no time.”
--- snippet from
http://www.telegraph.co.uk/finance/oilprices/11260918/Oil-drop-is-big-boon-for-global-stock-markets-if-it-lasts.html
