Venezuela and Nigeria decide to cut 200,000 barrels a day but that cannot stop crude oil to plunge below $30 a barrel
Lauren Morgan
Sep. 29, 2006

The unilateral cut will do nothing to stop the collapse of thenoil market - excess supply and alternative fuels will take it over.

Venezuela and Nigeria decide to cut 200,000 barrels a day but that cannot stop crude oil to plunge below $30 a barrel.

The crude oil and natural gas market main depend on China's access to cheap energy and Russian oil and liquified gas supply. For the first time a powershift has taken place from Opec to Rissua-China mechanism.

The other Opec members are at a loss. They do not know what to do. They realize after amy boom there is bust and that bust in oil and gas will not be pleasant for them.

Venezuela and Nigeria decide to cut 200,000 barrels a day but that cannot stop crude oil to plunge below $30 a barrel
Lauren Morgan
the unilateral cut will do nothing to stop the collapse of thenoil market - excess supply and alternative fuels will take it over.
READ MORE>>

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