...The leaves OPEC which has one of its big shindigs in the desert next week with all of the dancing girls and Hummers that the oil ministers can muster. Wall St. wonders whether the cartel will cut production. Why wonder at all? There is no money in keeping production where it is. Crude has come down too much. OPEC is leaving cash on the table every day. Member nations showed no compassion when oil was at $140.
Why would they show any compassion now?
Wednesday, September 3, 2008
Las Vegas Lock Of The Week: OPEC Will Cut Production
Yeah, I'd have to make that my Five Star Tip of the Week too. From 24/7 Wall Street: