Oil Less than 44$ a barrel today 5th December 2009

[deepseacon]

Well oil is now below 44$ a Barrel and could go down below 30$

So when it was at 147$ just proves to show it was a Specilative price and not the market rate for the product this was only 5 months ago.

[James McLauchlan]

It was a speculative price as you suggest. Analysts were saying at the time that there was no other explanation. The boom is over, the correction will continue, to the downside, and then bounce back a little. I feel it won’t bounce back much though due to the current state of the worldwide economy.

[Scott Beveridge]

Hmmmmm…. a slight worry I suppose. See link below for ME sentiments on the price of black gold. Cheese Louise! Didn’t the last administration make a fortune (whilst raping the govt coffers…)!!!!!!???? Gold prices, Boeing / arms co. shares and insurance company stocks as well?????????!!!!!!!!!!

http://www.zawya.com/story.cfm/sidZW20081129000016/lok084006081129?weeklynewsletter&zawyaemailmarketing

🙄 🙄 🙄 😉 😉 😉 nudge-nudge

[Savante]

thought be a good idea to step away from politics and chuck this one in as a wee reminder of more important things !!. lol

http://news.bbc.co.uk/1/hi/business/7786456.stm

2.2 million bpd cut from production and still the oil price falls 43.7 USD/ bbl !!!

The following is an interesting read though….

http://europe.theoildrum.com/node/4870#more

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