World is fortunate that last 2months have seen correction in the prices for most important commodity like oil. While prices moved from 10-20-40-80-100-150; OPEC maintained that it is nothing to do with demand / supply but rather because of speculator in the market. Agreed. They didn’t increased production as such; albeit twice they pleased their bosses by increasing little production levels.
Today OPEC is meeting to decide on future actions for controlling the fall in the prices…where the speculator theory has gone. Is this talk because OPEC countries are feeling the pinch of reducing revenues, falling stocks, increasing inflation? Is high prices for only commodity available with them is the solution they see in keeping themselves afloat? Isn’t this greed?