What caused the price of oil to fall?

and who are the people who have lost it? and what are they going to do about the situation to stabalise the price?

11 Responses to “What caused the price of oil to fall?”

  1. Armed and Get on Says:

    car companies are dropping like flies.

  2. I wonder Says:

    george bush did it with the iraq thing

  3. lost Says:

    no jobs no money to pay for gas

  4. dinggywangtastic Says:

    especulation,

    normally when oil price raise, people tend to associate it with shortage of supply, well most of time thats not the case. but its more based on speculations,

    i personally believe huge international oil companies make up those informations to the public such as venezuela want to decrese the export of crud oil to the US, so they can raise the selling price, maximising the profit,

    but u can only pull off the lie for certain amount of time, specially when US is basically draining Iraq and afganisthan

  5. tubaelf Says:

    Summer demand went down. OPEC does their best to not release too much oil so as to keep demand higher than supply. It is the same reason why diamonds are expensive, one company owns 98 percent of the worlds diamond mines and only releases a small amount per year. If you do a google search you will find that OPEC has publicly stated in the last six months that they are going to cut production in order to raise the prices again.

  6. Alvin Says:

    price of oil fell because demand fell. as the economy is recessing people cant afford gas driving demand down and the market shifted because of it. As for why the shift was so great, (like a 70% decrease) is probably because of artificial supply withholding and trade barriers asshole OPEC applied

  7. Hugh Manatee Says:

    Lack of demand. The low price does not bother me. It should bother the oil producers, though, but it is their own fault. The high of $140 a barrel helped push the global economy into recession. Their chickens are coming home to roost.

  8. Dr.A.R rohoman B Says:

    latest news-
    http://newsground.info/

  9. roostermanforever Says:

    it may have fell but we are still paying very high prices

  10. dude Says:

    demand has dropped so price has dropped. To offset this, supply has been tightened

  11. World War III Says:

    the same reason it went up, the people who own and sell oil felt like it