Right now the goal of the Saudis, Kuwaitis and the other members of the Gulf Cooperation Council is to see prices fall. They are very sensitive to the position of the U.S. and the rest of the industrial world. The moderate states want to see prices between $50 and $55 a barrel.

195

The hurricane may end up being a big nothing. If it misses oil facilities or the damage isn't too bad prices will fall further. The only way for OPEC to get out of this mess is to overproduce and broadcast they will pump whatever the market requires, which is what they did.

163

Refined product fundamentals are quite strong and likely to pull up crude prices. If one adds to all this the possibility of continued 'hot' news from Iraq, Iran, Nigeria and Venezuela, crude prices are likely to rise next week.

162

Measures taken by the Federal Government in conjunction with the IEA should have a downward pressure on crude prices. Current supply and demand fundamentals are only somewhat bullish for gasoline and outright bearish for crude oil and distillates.

156

With the weather still relatively warm, the market is unlikely to sharply focus on the bullish heating oil market that is in the works. Refiners are making gasoline late in the year.

146

OPEC must add additional production capacity. This must be sufficient to meet demand and beat out the hedge funds that have pushed prices so high.

145

The only way for OPEC to get out of this mess is to overproduce and broadcast they will pump whatever the market requires.

97