Replies to post #308627 on Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

yeah, EIA data delayed for a day due to "holiday"
(the new PPI....)

[Sherlock356]

Welleslamont.....IF you believe as Steven Roach does that we are going to have a Global Recession next year (I am not in that camp fwiw).....how can you believe that demand will also explode during a recession? Just curious.

[Public Heel]

There's a lot of noise recently from people who want to manipulate the market. I think most of the talk about $60 oil is coming from them, and they will sell their positions as soon as they see that won't happen. We could thus be in for a nasty drop in the price, likely down into the low $40's pretty quickly.

BP's prediction, though, is another story. I'm inclined to agree, but I'm not sure I'm happy about the source, given their inability to estimate even their own reserves...