OPEC May Have to Cut Aggressively to Get Ahead of Demand

Look for demand for crude oil to continue to drop as global economies continue to contract. Manufacturing and production is down all over the world, leading to a rise in crude oil inventories because of falling demand despite OPEC production cuts.

OPEC is set to meet on March 15. At that time look for an announcement of additional cuts. They may have to cut aggressively to get ahead of demand.

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Posted by James A. Hyerczyk at Monday, March 02, 2009 7:04 AM
Categories: Energies
Tags: Heating Oil Crude Oil Natural Gas Unleaded Gasoline
 

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