With the markets being the way that they are, it seems that even the rats want to sell of their oil bonds and futures to make a quick buck. Probably the rat many not know that the very act of mass sell off's in oil bonds and futures is bringing down the price tag of oil, but hey I am happy that it is happening as I am sure that the rest of the world are. Of course, OPEC did not do much about the oil hike but then again since they all have a deeply personal stake in oil, i do not see what they could do. Of course they could have increased production by a huge margin, thereby impacting the price of oil , since huge supply leads to lesser demand and therefore to a lesser price. Had they done that they all could have saved the world a ton of worry, but they did not do that. There are times that I think that the OPEC is an antiquated organisation that needs to be re hauled totally.
Either way the price of oil is down and it is all because the markets are jittery and everyone wants to see some profits while it is still possible. Be that as it may, soon if the markets do not show some recovery and the plunge continues, then the profits will dry up and the oil surge will start all over again, this time aiming for new heights!
oil,opec,recession,shares,futures,
Tuesday, October 23, 2007
Heap more profits, lesser price for oil!
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