Quote:
Originally Posted by burn_this_city
OPEC said yesterday they could compensate for any supply shortfall. Theres still a couple million barrels a day from OPEC countries that has been shut in since the economic downturn. The pipeline to Italy has already run dry so I dont see what the west has to lose now.
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Sure the Saudis have extra oil, but there's planned protests in Saudi too
To me this looks like a disaster to any economic recovery.
Quote:
SAUDI SUPPLIES
Reuters market analyst Wang Tao said technical charts showed Brent could be on course for a rise to $158 per barrel in 2011, well above its 2008 high of $147.50, while he expected U.S. crude to touch $159 per barrel.
Read more: http://www.edmontonjournal.com/news/...#ixzz1EstvquP1
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