We've two major factors affecting the worldwide price of oil. One is the perceived and real world economic slowdown and the other is the value of the dollar. While I can see the world economic slowdown continuing, the dollar is likely to face new resistance due to the monumental cost of bailouts. Add to this any new and/or real production cuts in oil production out of OPEC, and any unexpected temporary stoppage (Nigeria) and we will arrive at our new average price.
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We've two major factors affecting the worldwide price of oil. One is the perceived and real world economic slowdown and the other is the value of the dollar. While I can see the world economic slowdown continuing, the dollar is likely to face new resistance due to the monumental cost of bailouts. Add to this any new and/or real production cuts in oil production out of OPEC, and any unexpected temporary stoppage (Nigeria) and we will arrive at our new average price.
Sep 20 16:58 pm
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All Comments by Duude »Oil Up $6 to $104 [View article]