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Thread: The investors bet the oil prices will fall to 50 dollars!
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[quote=FRANKENSTEIN,332346]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?[/quote]
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