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Knightbk · 10-24-2008, 05:12 AM

Don't worry about it, it will have limited effect.

Supply and Demand control the market price of course, but so does psychology and right now, the world is going through a "fear" cycle, which means that they believe that the price of everything is going down, and thus the price WILL go down.

They would need to make a very large cut to Oil to make a lasting impact, and that wont happen.

So expect oil to see a small $5-10 bump and then go down again.

Either way, when the economy begins to recover in 2010, oil use will go up again and the price will catch up soon enough. In the meantime, people will be trading in their SUV's and gas guzzlers for Toyota Echo's and Honda Civics.

10-24-2008, 05:12 AM	#2
Knightbk Avalon Senior Member Join Date: Oct 2008 Posts: 73	Re: OPEC Oil price manipulation Don't worry about it, it will have limited effect. Supply and Demand control the market price of course, but so does psychology and right now, the world is going through a "fear" cycle, which means that they believe that the price of everything is going down, and thus the price WILL go down. They would need to make a very large cut to Oil to make a lasting impact, and that wont happen. So expect oil to see a small $5-10 bump and then go down again. Either way, when the economy begins to recover in 2010, oil use will go up again and the price will catch up soon enough. In the meantime, people will be trading in their SUV's and gas guzzlers for Toyota Echo's and Honda Civics.