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Abraham Energy Report
OPEC Attempts Shock Therapy for Declining Demand: Abraham Energy Report
January 2nd, 2009
The Abraham Energy Report issued a special analysis to subscribers of OPEC's decision Wednesday to cut production by 4.2 million barrels per day. A special Web-only bulletin from the Abraham Energy Report (AbrahamEnergyReport.com) advises subscribers that "the cut is the largest the organization has attempted at one time in its history to date" and that the "agreement was swift with little apparent dissention." The recent collapse in oil prices by almost $100 per barrel is a symptom of the slowing economy. "Global oil demand is now certain to shrink in 2008 for the first time in 25 years, and a consensus is developing around the notion that demand...
Source: Health Business Week (2009-01-02)
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