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Gilead, oil was up when OPEC said they were lowering production to avoid a "glut". Even if they do lower production, there appears to be ample supply to get us thru the winter with enough heating oil (in northeast). Of course the big issue with heating oil supplies is too few REFINERIES, not crude oil supply.

Note also that as heating oil supplies build, refineries will switchover to gasoline production for spring-summer.

Point is there are lots of factors impacting Crude price, and output from OPEC is just one.

I don't mean for this comment to be taken in an extremely political way, but here it is:

If the President wanted to help the American consumer, he would actively promote CONSERVATION. As it is, he has too many friends in the oil business to say anything that would impact crude prices negatively. That fact leads me to think that we could return to $50/bbl sooner than we thought, like by sometime in February.

Regards,