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clock Created with Sketch. 22/01/15
13:25
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Originally posted by Steini
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The oil price is down due to Saudi Arabia's effort to put Russia and the US out of business. The latest graphs on supply / demand, shown on the ABC news last night, proves that the speculators drove the price down in anticipation that the demand would slow and therefore the market would be flooded with oil. The reality is that supply and demand are close balancing each other out as the Chinese pump their storages full to the rafters. Soon speculators will reverse the oil price direction, on top not to forget that lower prices lead to higher consumption. I did my bid, swept my Getz for a 4WD. And: Started buying AKK. The sp may get even lower but with such a high quality acreage and a MC at about 13m !!!!!!!!!!!! and a lot of oil flowing there isn't much risk atm.
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The Saudis are trying to pressure Iran and Russia to get out of Syria. The American oil industry is just an innocent bystander caught in the crossfire.
