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Old 05-08-2008, 08:43 AM   #1
marketsmart
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OPEC finally trying to talk down oil prices..

I am sure at the US request...

Here's what is being said:

"no shortage of oil in the market... seeks oil prices that reflect fundamentals.. strives for a stable balanced market..

says spare capacity 3 mill bpd.. some producers unable to find buyers for extra supply.. "


we'll see if this ends up being negative oil/USD supportive... i think it might lower oil for a few days, but i doubt long term since oil is really being driven by the speculators and perceived value of dollar...
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Old 05-08-2008, 08:47 AM   #2
B2BwithJoeD
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Hillary is going to break up OPEC ...
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Old 05-08-2008, 08:50 AM   #3
marketsmart
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Quote:
Originally Posted by Webbilling JoeD View Post
Hillary is going to break up OPEC ...
well first of all, she cant do shit to them... 2nd of all, its the US oil companies in bed with the arabs that are price fixing...

and finally, its the gas companies that lowered their refining capacity over the past decade, so they could get some of those nice oil companies profits...
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Old 05-08-2008, 08:54 AM   #4
CheneyRumsfeld
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you should have bought stocks in the oil companies.
or oil futures at C.B.O.T
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Old 05-08-2008, 10:11 AM   #5
Tempest
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Quote:
Originally Posted by marketsmart View Post
says spare capacity 3 mill bpd.. some producers unable to find buyers for extra supply.. "
Actually, it looks like that's simply not true and false propoganda.. The stuff they're unable to sell is the heavy/sour oil and not the higher grade light/sweet oil which is what we use.. There seems to also be strong indications that most of their spare capacity is in the heavy/sour oil...
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