http://www.321energy.com/editorials/dorsch/dorsch011207.html
The article gives one explanation why crude is falling despite the announced production cuts by OPEC. Basically, the falling oil price puts pressure on many countries' budgets, and they would rather try to increase output to keep revenue the same.
Our comment:
The article gives one explanation why crude is falling despite the announced production cuts by OPEC. Basically, the falling oil price puts pressure on many countries' budgets, and they would rather try to increase output to keep revenue the same.