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Re: Trueheart post# 78400

Tuesday, 09/16/2008 10:53:32 PM

Tuesday, September 16, 2008 10:53:32 PM

Post# of 107353
FWIW, I thought that OPEC came out with a statement after their last meeting that they would do whatever was needed to keep the price of oil at $100/barrel.

If they did not go away from this philosophy of theirs then I don't think the current oil prices will be anything but short-lived.

All IMO. I'm sure the bigwigs at OPEC are happier with $100/barrel than $90/barrel not to mention they literally have everyone else over the barrel (pun intended). They cut supply - prices go up; they flood the market - prices go down. Simple supply and demand.

Have a good night and GLTA

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