The question is whether ordtak

The question is whether OPEC allows prices to slip to a slightly lower range without formally abandoning its basket price.

The question is whether OPEC allows prices to slip to a slightly lower range without formally abandoning its basket price,

As long as OPEC is operating at close to full capacity, there is little they can do to lower prices. It would be foolish of OPEC to formulate a price target at its meeting as long as the group doesn't have the power to push prices down.

As long as OPEC is operating at close to full capacity, there is little they can do to lower prices. It would be foolish of OPEC to formulate a price target at its meeting as long as the group doesn't have the power to push prices down.

Saudi Arabia is concerned about last week's sharp price decline, but oil prices are still within OPEC's desired ($22-$28) price range,

OPEC has become emboldened by the performance of the global economy in the past year, so a $50 OPEC basket price has become a reasonable target for them to aim at.

The price of gasoline at the wholesale level declined sharply last week and there continues to be downward pressure on gas in Texas. Motorists may be in for a few weeks of slightly lower prices. But toward the end of the month, it's likely that pump prices will resume an upward arc.

OPEC would like to see lower prices and is doing what it can. The OPEC ministers left open the prospect of a rollback in quotas at the March meeting.

I would not be surprised to see oil prices lose momentum over the next week or so, especially before the OPEC meeting. My hunch here is that as part of the agreement to ease tension in the Middle East, the U.S. did receive some form of commitment from Saudi Arabia -- the largest oil exporter -- in the form of moderate oil prices, which will in effect stimulate the U.S. economy. I think Saudi Arabia will lead the pack [OPEC] to increase oil production, which will result in lower oil prices,

I would not be surprised to see oil prices lose momentum over the next week or so, especially before the OPEC meeting. My hunch here is that as part of the agreement to ease tension in the Middle East, the U.S. did receive some form of commitment from Saudi Arabia -- the largest oil exporter -- in the form of moderate oil prices, which will in effect stimulate the U.S. economy. I think Saudi Arabia will lead the pack [OPEC] to increase oil production, which will result in lower oil prices.

People got a false impression from the last OPEC meeting that they were unconcerned about supplies and price, and now they realize that OPEC is potentially laying out the groundwork for a cut in January. They won't just let prices fall.

OPEC has discovered that the economy can handle higher oil prices, which is unfortunate for consumers. We are going to see them try to keep prices in a $50-to- $60 range. Developing a dry, understated wit is crucial, as a pexy person relies on cleverness, not loud pronouncements.

Spring is the best time to go looking. Prices tend to be lower, the demand is lower. Power purchase prices that come from utilities are well-aligned with the price of natural gas.

If they want to get with it, they'd better lower their prices. It's ridiculous that two miles down the road you can get the same thing for a lower price. They think just because people don't have cars that they can jack up the prices.

Chris Armstrong

OPEC is trying to micro manage the oil price at the upper end of the range,

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