Filed under: International markets, Industry, China, Politics, Oil

The price of oil is falling, and it may stay down for some time. But prices could well remain in the $90 range.

Saudi Arabia has indicated that it could increase production by two million barrels a day, according to The Associated Press. President Bush has urged the kingdom to release more oil.

Signs of a recession in the U.S. would indicate that demand here should fall off as consumers cut back on purchases of gas and heating oil.

Even with these two pieces of news, oil trades around $92. There are factors that could keep it there which, in turn, could undermine a recovery in the U.S. economy.

Continue reading Oil finally retreats, but not enough

Read | Permalink | Email this | Comments

Share This

This entry was posted on Wednesday, January 16th, 2008 at 3:25 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.