posted on Nov, 29 2008 @ 10:43 AM
I find this completely absurd! The King of Saudi Arabia says, "We believe the fair price for oil is $75 a barrel." The "fair price" is something
I think OPEC should not receive. They, along with other producing nations, were not arguring when they were making hand over fist cash when oil was
trading at $147 in mid-July. Now that it has tanked, so has their economy (and the global commodity/financial market as well). OPEC will wait to
make a final decision on December 17th.
The oil producing group's president, Chakib Khelil, said OPEC will wait until a meeting in Algeria on Dec. 17 to decide whether to cut
additional crude supplies from the market.Please visit the link provided for the complete story.
His comments came after Saudi King Abdullah told the Kuwaiti newspaper Al-Seyassah in an interview published Saturday that oil should be priced
at $75 a barrel.Please visit the link provided for the complete story.
[edit on 29-11-2008 by Quazze]