Crude Oil Forecasts

The fastest-growing concern for the everyday user of the automobile is the international market crude price .... now that the barrel has reached the $100 mark ...oil producers and companies,investors and so on will no doubt want to keep the price as high as they are, for that purpose they will use SPECULATION as the driving force ...
We can already witness S P E C U L A T I O N at its best as options to buy oil for $200 on the New York Mercantile Exchange rose 10-fold in the past two months !!!

The contracts, the cheapest way to speculate in energy markets, appreciated 36 percent since early December as crude futures reached a record $100.09 on Jan. 3.
Saudi Arabia, the world's largest exporter, said last week that the 500,000 barrel-a-day Khursaniyah oilfield missed a December start date !!!

Brazil's Tupi field, the second-largest find of the past two decades, lies more than eight kilometers (five miles) below the ocean surface and will take at least five years to develop. !!!
Petroleos Mexicanos, Mexico's state oil monopoly, suffered a three-year, 40 percent decline at its Cantarell field, the world's third-largest !!!

Fighting in Nigeria reduced production 11 percent since December 2005 !!!
According to OPEC, there is enough oil in the market rising prices aren't OPEC's fault. The group is scheduled to meet Feb. 1.

Even the assessment from OPEC suggests prices will rise ... they also use SPECULATION as the driving force !!!

However all this SPECULATION will prove to be useless as Oil is overpriced and the U.S. economy, the world's largest, will slip into recession this year. The jobless rate rose to 5 percent in December, the highest in two years. The Institute for Supply Management's factory index fell to the lowest level in almost five years in December.
Lets all do what we can to force the crude prices down, be it in Europe,America,Asia or downunder we all face the same situation ...Oil is overpriced and we pay the bill ....