Death comes to us all. Life's but a walking shadow | If you believe that this was all done for Putin's benefit then the question becomes, " Did he get the message?" He's still talking pretty belligerent so maybe not. If you think this was to put the "tight" oil producers on the back foot, that is dampen supply I would guess it has done that. Anyone thinking about investing in oil drilling in North Dakota or tar sands in Canada is thinking again. My own guess is that the powers that be don't want oil to go too low too long because it too uncertain just what might happen to the greater economy. Shaving $20-30 off the price will sure help the consumers but oil is too big a segment to let it go too low. If I had to guess I think it'll stay in a range until the effects are better known. If production is trimmed then it should gradually increase but that just my guess. |
Crude Oil / Fuel Prices
