11-06-06, 04:55 AM
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 | Kizen  level 1 | | Join Date: Sep 2006 Age: 26
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 Oil Slips $ 59 Opec In Problem
> > On Monday the cost of each oil barrel sided below 59 $ as the traders doubted on OPEC actions on production cut despite assurances from the cartel's president, while high stockpiles protected against the risk of supply disorder.>> OPEC President Edmund Daukoru said on Sunday all OPEC members will fully implement their oil production cuts, while market conditions may force the union to cut output further next month, indicating the group may no longer tolerate prices below $60. lace w:st="on"> Qatarlace> has told Asian customers it will cut their supplies by 2.5 percent this month.>> Prices also pulled back from a rally on Friday, when the U.S. consulate warned a militant group in the country's oil producing lace w:st="on">Nigerlace> Delta may have coming up with a plan to launch a campaign of bombings and attacks on oil facilities that have already seen production cut by 500,000 barrel per day since February.>> According to me it is wise to not to invest in the commodity market if the traders want to gain quick result and short term investment and gains a good knowledge in the oil market then its better or suggestible to invest in this because the market is showing quick upward or downward trend in the oil market only those traders who are well aware of OPEC actions are suggested to invest. to know more about the market log on to my blog moneyeasymoney.blogspot.com >>  |
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