marathon may have increased the value of...., page-17

Fish

Their are a few errors in your post.

Firstly is was'nt obama that realeased the 60 million barrels, it was the IEA made up of 28 countries,

The allocation was arranged according to member?s consumption -

US - %50 or 30 Million barrels
Europe - %30 or 18 Million barrels
Pacific - %20 or 12 Million barrels

And the reason why the saudi's cant raise production is simlpy because they can't. The IEA obviously dont have an endless suppy of reserves, so once the 60 Million barrels are released in about a month what happens after that?? well then your back to old problem and same prices.

If anything this move by the IEA just shows you how scarce oil is getting and the supply / demand cant keep up. Which in turn makes your oil stocks even more valuable, especially when they are operating in a country with little soverign risk. Many reports im reading see the short term (1-2 months) oil price falling to around the $85 per barrel mark then continuing their uptrend.

All these measures they are taking are short term bandaids, the fundamental underlying factors still stand and will ultimatly drive the long term oil price.