1977°C

Why Oil Will Head Higher

forgot to add why demand for financial information is down 50%, because people lost hope.

Why Oil Will Head Higher

Oil will not go to 60$ not in December 2009 and not next month, and you know why?
Because all best stock market blogs and websites are getting about 50% less visits than last year, and you know what that mens?
It means that we are in very serious economic collapse that will make many people mostly from middle class very poor and majority of poor very slim.
If you think few billionaires will make for the lost gasoline demand during this 1929 Part II crash, then think again.

Crudomania Is Over

I agree only with 10-20$ Oil as 40-75$ that you project seems weird long term.You all forgot that in 1997 Oil was 10-15$ and nobody cared, then in 2008 many WORLD'S TOP ANALYST were predicting 250$ in a matter of days and we all witnessed where it all finished, sorry, it is not over yet.
I promise all of you, that till 2015 we will hit 9$ a barrell.
Yeah, Oil is now 50$ and I make money both buying/selling it day by day, but I would never buy December 2017 Crude Oil at 80$, the market traders of all kind predict such a price for 2017 and I have no idea how they come into this 60% above now price call, but may I remind you that in 1999 longest dated futures then for December 2008 were tading, well at around 20-25$.

Iraq Production, Conservation Could Keep Oil Price in Check for Years

I disagree, sorry, not because I am expert on Crude Oil production just the opposite, and it gives me a right to disagree.
OPEC is made of ,now take a deep breath and hoppa, OPEC is made,yeah, traders that simple.
What you think that because they wear different clothes than you and look darker they can not be traders?Middle East has long history of trading commodities and first futures were found by Socrates to meet the supply/demand long term agreements between Olive Oil producers and wholesale buyers to stablize the prices and secure delivery as Olive Oil producer was afraid demand will suddenly evaporate and kill it's profits etc. and buyer was afraid of losing access to stable deliveries in times of expected future rising demand and shortage of Olive Oil elswhere.
Since then (2500-3000 years ago?) the relationship between producer/consumer were not easy as sometimes when prices crashed seller made stable profits and at other times seller lost as prices rose and he had to deliver at below prices.
So who is more important in the OPEC/consumer relationship?
I think that both sides are important as we need OPEC for it's Olive Oil, sorry, for it Crude Oil and OPEC needs us for the same reason to sell us it's Oil and make money whatever the price will be, producer just can't shut it's Oil well and go somwhere else do something else as Oil is all he have and it is in their interest keep it running,developing it,selling it and pocketing the profit.