Posted on 11/01/2004 2:45:05 PM PST by Shermy
MOSCOW, October 29 (RIA Novosti) - OPEC explains the high level of oil and petroleum products prices by a speculative game on the world energy markets, OPEC acting Secretary General Maizar Rahman told reporters in Moscow.
"We explain the high prices, and this means over $50 per barrel, by certain subjective factors, and first of all, by a speculative game," he said.
Mr. Rahman added that the current level of prices was far beyond the traditional price corridor for oil.
He also said that along with the speculative game on the energy market, one of the factors increasing prices for oil is an increased demand for raw materials. It exceeds the planned figures almost twofold.
The OPEC acting secretary general recalled that in line with the forecast for next year, the demand on oil was to have totaled 1.1-1.4 million bpd. Real demand today is 2.2-2.8 million bpd.
In Mr. Rahman's words, the political situation in the world somewhat influenced the level of prices. The acting secretary emphasized that OPEC made and would make efforts to maintain stability on world oil markets and keep the price within an acceptable price corridor. Mr. Rahman said that if necessary, OPEC might boost oil production by 1.5-2 million barrels.
"However, this is unlikely to reduce oil prices, as today supply exceeds demand by 2 million barrels daily," said Mr. Rahman.
Quotes:
"We explain the high prices, and this means over $50 per barrel, by certain subjective factors, and first of all, by a speculative game," he said.
...
"However, this is unlikely to reduce oil prices, as today supply exceeds demand by 2 million barrels daily," said Mr. Rahman.
Not to mention Soros & Co.'s manipulations.
Something tells me George Soros has spent a whole lot more on trying to swing this election than he gave to MoveOn.org...
I wonder if Soros is playing with the oil market.
This has George Soros written all over it.
Calling Mr. Soros...Your contracts are due. Pay up now!
Think the OPEC guy is talking about things like that. He has to tell the straight story to the Russians since they tacitly, but not too closely, cooperate.
During Asian economic crisis in 1997-98, Malaysia's Mahathir accused Soros openly of starting the whole crises by attacking some Asian's currencies. Ironically, they are both now on the same side: attacking President Bush.
Down $5 in the last week - Soros is giving up now that the election is here.....
Oil Ping.
I believe the oil prices are being inflated for the election. I think you will see oil prices back to around $40 a barrel by December 15, barring any huge event, and oil prices will drop back to $30 barrel range in the first quarter of 2005.
By design, but needs more money to pull off that. I hope!
Maybe collabo with China, Saudi, and/or Iran.
S)tartling
O)il
R)ise
O)ccurred
S)peculatively?
Imagine that.
I have no doubt whatsoever that the oil markets are being manipulated by speculators now and for the past 6 months, but it is unlikely that even George Soros has enough dough to keep the price of oil hiked up as its been.
If he shorted the dollar he will end up making money. Hope he violated SEC and FEC regulations somewhere along the way. RICO?
Thank you, George $oreA$$ and other super rich left wing fascists for doing the impossible driving up the prices on a commodity when supply has been larger than the demand!
""However, this is unlikely to reduce oil prices, as today supply exceeds demand by 2 million barrels daily," said Mr. Rahman."
May all of the little pimps and whores get whacked as the market comes back to supply and demand. Unfortunately $oreA$$ probably got out of the market last week right before he admitted that GW would probably be re elected.
I wish to God that the IRS investigate Tereza Heinz Kerry, George Soros, Peter Lewis and Stephen Bing to determine if these four rich A-HOLE Elitists have been evading Taxes, and if they have, indict them as soon as possible!
Soros
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