OPEC finally trying to talk down oil prices..

[marketsmart]

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...

[B2BwithJoeD]

Hillary is going to break up OPEC ...

[marketsmart]

Originally Posted by Webbilling JoeD

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...

[CheneyRumsfeld]

you should have bought stocks in the oil companies.
or oil futures at C.B.O.T

[Tempest]

Originally Posted by marketsmart

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...