SPC   

Oil demand

Ha, so would they cut down jobs on sucking the petrol from the bottom or they will continue sucking but put it on a storage tank for future purposes?

iPunter      ( Date: 18-Dec-2008 11:31) Posted: Opec is probably scared of further diminishing future demand driving prices even lower... Thus cutting back production is a sound move to prevent overflowing inventory...

 

Opec is probably scared of further diminishing future demand driving prices even lower...


Thus cutting back production is a sound move to prevent overflowing inventory...

 

Hmmm... if the oil production was cut down, weren't the oil price be up due to consumer demand?

 Sorry that I wasn't explaining question well earlier

 

duskkk      ( Date: 18-Dec-2008 11:02) Posted: Why will a decrease in oil demand lead to a rise in prices? tchekchuan      ( Date: 18-Dec-2008 09:38) Posted: Will it cause the petrol price to rise again because of the decrease for oil demand? Can we invest on SPC share?

 

Why will a decrease in oil demand lead to a rise in prices?

tchekchuan      ( Date: 18-Dec-2008 09:38) Posted: Will it cause the petrol price to rise again because of the decrease for oil demand? Can we invest on SPC share?

 

OPEC plans to cut oil production by 2.2 million barrels a day. 

The oil cartels are trying to reduce supply so as to increase the price back to US$70 levels. But even after the annoucement was made, oil still trading at US$40.

SPC may just rise again.... but it all really depends on consumer demand. If industries continue to cut production, I don't think oil price will significantly increase.

 

Will it cause the petrol price to rise again because of the decrease for oil demand? Can we invest on SPC share?