hebercreeper: I like the Saudi-U.S. conspiracy theory! Losing a ton of money from oil might force Russia to sell their gas to Western Europe, and at a decent price.
Another theory invented by me is that George Soros is trading down the price of oil so that the price of gasoline in the U.S. will be $2.65 a gallon by election day, which would help the incumbent party. Where I live, gasoline prices will be below $3 within a week. Remember, when oil prices rise, gasoline prices rise almost in tandem. When oil prices drop, there is a long lag in dropping the price of gasoline. The current price of gasoline does not yet reflect the 15 percent drop in oil prices.
The Saudi's can cut back production, but traders ultimately determine the price of a barrel of oil.
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