Lawrence Eagles Price Quotations

Given the paranoia of the cartel that it is currently pumping too much oil and that this threatens a price collapse early next year, caution will clearly be the main watchword.

Part of the recovery overnight (in the price of oil) may have been due to anti-Israeli protests in Jordan, where 30,000 protestors had to be driven back from the boarder by security forces,

OPEC has shown itself to be market-savvy by recognizing that waiting for the price band mechanism to kick-in could cause a slump well below $22 a barrel,

I would imagine they'll use their 20-day price trigger as the barometer, which means not until the end of June, by when we should know what the UN is doing with smart sanctions,

Indeed, even if OPEC is not bothered about helping America per say, economic considerations make a lower price as sensible option.