Why Are Oil Prices High When Supply Is Ample?
Posted by Clark Venable on 10/24/2004
Clayton Cramer: Why Are Oil Prices So High?
""....And from Adel al-Jubeir, Advisor to the Saudi Crown Prince September 28, 2004 at about 1:40 PM Pacific time, CNBC interview with Maria Bartaromo:
"We believe the price of oil should be between $22 and $28 per barrel. $25 is a good reasonable price. There is no extra demand accompanying today's very high price for oil. We are seeing no extra customers lined up and there is no shortage of supply. The high prices we are seeing are due to speculation in the oil markets."""
"We believe the price of oil should be between $22 and $28 per barrel. $25 is a good reasonable price. There is no extra demand accompanying today's very high price for oil. We are seeing no extra customers lined up and there is no shortage of supply. The high prices we are seeing are due to speculation in the oil markets."""
This post has 0 replies
See full thread
