The investors bet the oil prices will fall to 50 dollars!

The investors bet the oil prices will fall to 50 dollars!
Oct 24, 2008 02:28
FRANKENSTEIN Points: Join Date: Nov 29, 2004 Status: offline	So far, the oil prices have fallen to 66.2 dollars each bucket this week, which is the lowest level in recent 16 months. In order to turn this situation around, the OPEC countries have had a meeting to discuss cutting the oil production. Many countries agreed to cut the oil production but they didn't reach an agreement on the size. Some want to cut 2 milllion barrels per day. But some other nations didn't agree and they just wanted a cut of 750,000 barrels per day. Since the OPEC countries haven't reached an agreement on the cutting of oil production, some investors believe that the OPEC won't make a sharp cut of the oil production during the global economic slowdown. So they think that the oil prices will be as low as 50 dollars in December. Do you think that the oil prices will keep falling and finally drop to 50 dollars a barrel?

Oct 24, 2008 02:28

FRANKENSTEIN
Points:
Join Date: Nov 29, 2004
Status: offline

So far, the oil prices have fallen to 66.2 dollars each bucket this week, which is the lowest level in recent 16 months. In order to turn this situation around, the OPEC countries have had a meeting to discuss cutting the oil production. Many countries agreed to cut the oil production but they didn't reach an agreement on the size. Some want to cut 2 milllion barrels per day. But some other nations didn't agree and they just wanted a cut of 750,000 barrels per day.

Since the OPEC countries haven't reached an agreement on the cutting of oil production, some investors believe that the OPEC won't make a sharp cut of the oil production during the global economic slowdown. So they think that the oil prices will be as low as 50 dollars in December.

Do you think that the oil prices will keep falling and finally drop to 50 dollars a barrel?

Oct 24, 2008 04:49	#1
CARLOS Points: Join Date: Sep 10, 2007 Status: Offline	I think politicians are very carefully now when thinking about consumer prices of gasoline. Now that all people worldwide are afraid their money (tax money) will be used to save banks it is only wise to keep oil prices down. I believe oil prices will fall, if not to $50/ barrel, significantly anyway. Carlos

Oct 24, 2008 07:59	#2
JCNILE123 Points: Join Date: Mar 30, 2006 Status: Offline	Drill, baby, drill!! If McCain is to be the next USA president; that is a fact! With the brother oil will go up, up, up.

Oct 24, 2008 19:08	#3
COOLSPRINGS Points: Join Date: May 19, 2008 Status: Offline	Sometimes Speculative market has more power to manipulate price than demand-supply relationship. Mercantile Exchange shows the price oil puts with 50 USD strike and expire Dec. rose by 142 %. Hope It will plung further to the extent where manufacturers can afford to continue running the machines.

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