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OPEC: As irrelevant as ever

Posted on 17 March 2009

From Hardassetsinvestor.com: OPEC producing about 3.36 million barrels per day less currently than it was in September – and oil prices have settled into a somewhat steady level of $35 to $45 per barrel.

OPEC members can’t be happy about that – but they are in some ways stuck between a rock and a hard place. Yes, oil prices are low, but they could be worse. Compared to December 22’s closing price of $30.81, Friday’s close at $46.25 is manna from heaven….. Full Article: Source


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VRS - who has written 38089 posts on Opalesque Commodities Briefing.


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