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Tuesday, October 24, 2006

OPEC's Cuts Signal Pricing Worries

What is one to believe? The Saudis announce (see Link below)they will cut the production of oil in order to shore up the falling crude prices. How do we know that they aren't having trouble producing as much oil as we think they can. They wouldn't want to say that now would they? It seems to me that, either way , we are going to see the price start back up soon. The winter demand is heating up (no pun) and it has been almost a year now since we have seen any increase in global oil production. I guess we will not know 'til we know but I sure wish somebody would put their oil well where their mouth is. [LINK: Business Week]

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