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GasBuddy News Article

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Opec and IEA agree speculation bad

Dawn.com -- RIYADH: For a change, Opec and the IEA seem to concur on some of the major issues afflicting the energy world today. This is indeed a breath of fresh air, for the two are distinctly different in many senses. Their briefs are different. They represent two worlds, two interest groups and two schools of thought.



Opec has emphasized for quite some time that fundamentals – demand and supply – were no longer in full control of the oil markets, and that the world needed to act to curb speculation.



Markets need transparency, producers have been insisting for some time now. The point now seems to be getting across. The energy world today increasingly appreciates that wide scale speculation in oil markets poses tremendous risks.


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Submitted Jul 04, 2009 By: BurntOrange
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REPLIES (newest first)
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Valricoslash
Champion Author Tampa

Posts:1,758
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Message Posted: Jul 4, 2009 10:38:12 AM

Its amazing how much money you can make transferring paper on a computer.
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BartBuzz
Champion Author Atlanta

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Message Posted: Jul 4, 2009 10:38:01 AM

Why am I skeptical about this admission? I don't trust OPEC or IEA.

Keep conserving.
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KerryDeland
Champion Author Florida

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Message Posted: Jul 4, 2009 10:35:17 AM

What we need is for every little "burp" in the oil market to NOT be over analyzed, speculated on, and price adjustments made instantaneously.
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RichardoB
Champion Author Fayetteville

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Message Posted: Jul 4, 2009 10:33:30 AM

Speculators are getting a bad name with nearly everyone. Won't stop them though.
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twiper1
Champion Author San Diego

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Message Posted: Jul 4, 2009 10:30:55 AM

I know where this is going
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Buck_on_Bass
Champion Author Tennessee

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Message Posted: Jul 4, 2009 9:45:15 AM

OPEC sees oil prices are out of their control. This is a situation they do not like. OPEC does not like other to be able to control the price of oil.

It will be interesting to see how this is resolved.
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BurntOrange
Champion Author Austin

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Message Posted: Jul 4, 2009 9:17:02 AM

Try this link
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