OPEC (and mainly the Saudis) is the only entity with excess capacity, so it is necessarily price setter. Specifically, they post prices to their refiners
[Skip to the end] World demand still projected to increase. Crude Oil Rises From 13-Month Low on European Bank Rescue Plan by Gavin Evans The
[Skip to the end] While demand has been falling, it’s only down about 500,000 bpd year over year. World demand is growing faster than that
[Skip to the end] The Saudis will ‘meet demand’ but at their price. So the question remains as to what their price is. With their
[Skip to the end] Report Faults Speculators For Volatility in Oil Prices by Iathe Jeanne Dugan As crude-oil prices sink back toward $100 a barrel,
[Skip to the end] Saudi Oil Output The Saudi production increase tells me world demand was up, even at the higher prices. Yes, US demand
[Skip to the end] My current assessment is that the crude sell-off has caused the USD’s strength. Lower crude prices make the USD ‘harder to
[Skip to the end] (an email exchange) > > On Thu, Aug 7, 2008 at 7:15 AM, Scott wrote: > > crude moves further in backwardation. >
[Skip to the end] (an email exchange) > > On Wed, Aug 6, 2008 at 4:45 PM, Craig wrote: > > It seems that the ‘right’ price
[Skip to the end] Russel asks: Any reason why the Saudi’s are allowing the price of oil to slide? Just a guess. The futures liquidations