Business Daily from THE HINDU group of publications
Monday, Apr 21, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Monday, Apr 21, 2008 ePaper | Mobile/PDA Version | Audio |
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Mentor
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Petroleum Columns - Sticklish Issues Oil price movement
It has something to do with the current state of the economy and recessionary trends in the US. The weakening of the dollar is contributing to the rise in crude prices. The production, consumption and stocks held by the US also have an impact on international crude prices. As a natural consequence, the Organisation of the Petroleum Exporting Countries has taken advantage of the situation. Since crude prices will have a global impact, the issue needs to be addressed urgentl y. T.R. Anandan, Coimbatore Oil prices are fixed arbitrarily by the OPEC, without considering the demand and supply of the market. They are trying to make the most of the present situation. R. Swaminathan, Chennai No, as the value of the US dollar is getting eroded, there is a decrease in income and loss of investment value. Hedge funds, sovereign funds and the speculators are investing in black gold, pushing up its prices. P.E. Muthu, Mumbai More Stories on : Petroleum | Sticklish Issues
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