PDA

View Full Version : OPEC announces a cut in supply!


RUSH LIMBAUGH is my clone!
9/9/2008, 08:32 PM
500,000 barrels per day, due to price going down 30%. It's too bad increasing domestic production won't lower prices.
tommieharris91
9/9/2008, 08:37 PM
Hmmm... I'm really confused as to what the markets will do tomorrow on this news, because there are so many other factors that affect oil prices. And yes, increasing domestic will cause a longer-term price drop.
Mandibleclaw
9/9/2008, 08:59 PM
500,000 barrels per day, due to price going down 30%. It's too bad increasing domestic production won't lower prices.

An issue we can agree on, while OPEC wasn't totally responsible for the price explosion on oil, they are like crack addicts. They have become used to their profit margin, so a small domestic production and higher mpg cars will not help this crisis. They will just constrict the flow to maintain the supply/demand ratio.