Thursday, March 03, 2005

Oil, Oil !!!

One thing can be said about the Oil market trading in the first three days of March. It isnot a pretty picture. It seems to me that there is a lot of speculation going on in the market. This will only create pressure on OPEC to reconsider its decision to not hike production at their March 16 meeting. Remember that they are currently producing way over their agreed limits. One thing is clear, however, that the inventories of crude here in the US are in fairly good shape. OPEC would want the market to cool off a bit, but not crash.
Many things to talk about, but no time right now: China, Exchange rates, and what all of this means for automobile fuel consumption in the U.S.

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