| As Brent threatens to break $90, the lack of concern in most OPEC nations is interesting, but probably won’t last long. The fact that the dollar has appreciated in recent weeks is no doubt helpful to oil exporters, offsetting about one-third of the recent oil price decline. But the fear that the price will continue to slide as the market psychology appears to be increasingly bearish should motivate some to action.
The current dip in prices is hardly severe, more like the small drop in 1983 than the collapse in 1986. This is partly because temporary factors appear to be dominating oil price weakness, especially the worsening economic situation in Europe and parts of Asia...............................................Full Article: Source
|