Tuesday, 9 September 2008

Oil prices fall as OPEC ministers meet

Brend crude has fallen below $ 100 as OPEC Ministers meet in Vienna. Prices have sunk from a record of more than $147 a barrel seen in July. What does this tell us about the oil market? Well, for one, it demonstrates the market's fickleness - a bit like the English weather. Also, it shows how the price of oil is heavily dependent on geopolitical and extraneous factors. Perhaps the "market" could be more kind to the consumer - or should the consumer be more pro-active in seeking alternative fuel sources from the market?

1 comment:

Anonymous said...

I concur with this fine assessment of the devious, and often unseen, manipulation of the petroleum industry. The market is not fickle but represents little more than the puppeteering of a few under-handed nations lucky enough to have a strangle-hold over the world's supply of oil. The price of oil will undoubtedly remain over the 100 dollar mark - if its not because of dubious decisions by OPEC nations to under-supply then it would simply be something else... perhaps 'accidental' damages to Libyan pipelines or an 'unexpected' attack on Nigerian refineries.

Well done to Incorpolis for so eruditely shedding light onto this situation in such a convincing and elucidating manner. This blog simply takes it to the next level. Many congratulations to the visionary author for his vision and Nostradamus-eque understanding of the world around us and what the future may hold.