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Demand is dropping, supplies are about where they always are vs. demand,
and the Saudis keep raising output level - the last increase of 200K bbls did little - and just about everyone who actually knows anything about the petroleum industry (including the bulk of possession buyers) says oil is dramatically overpriced, but Libya "threatens" to reduce by as much as 300K because of the oversupply and Khalil says oil could (not that it _should_) hit 170USD/bbl, and the market jumps. And yeah, I'll save Ken, et al, the trouble - Bodman is an idiot, a liar, or both... Yet another "sheesh," R |
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