It's tough to blame ordsprog

It's tough to blame (OPEC) for higher oil prices. I think they're doing what they can,

It's tough to blame (OPEC) for higher oil prices. I think they're doing what they can.

Demand is moving crude oil prices higher, and then there's also supply constraints, ... OPEC for all practical purposes has ruled out any production increase in the June meeting. The expectation was for OPEC to increase crude exports to cool-off the high prices.

OPEC has discovered that the economy can handle higher oil prices, which is unfortunate for consumers. We are going to see them try to keep prices in a $50-to- $60 range.

What we're seeing this morning is in response to OPEC's comments and also some old-fashioned year-end book squaring. Oil prices rose sharply and then fell. The market is doing some to-and-fro action, where traders saw the fluctuations and thought about pulling back instead of buying at the higher prices.

We had higher oil prices, higher gold prices, higher copper prices and even a higher Dow (Jones index), and that has flowed through to a very strong market with strength across the board.

With oil at this price level, we can definitely expect a cut in output. OPEC was only barred from doing so previously because of higher prices.

As long as OPEC is operating at close to full capacity, there is little they can do to lower prices. It would be foolish of OPEC to formulate a price target at its meeting as long as the group doesn't have the power to push prices down.

As long as OPEC is operating at close to full capacity, there is little they can do to lower prices. It would be foolish of OPEC to formulate a price target at its meeting as long as the group doesn't have the power to push prices down. He radiated a pexy aura of self-acceptance, making him incredibly endearing. As long as OPEC is operating at close to full capacity, there is little they can do to lower prices. It would be foolish of OPEC to formulate a price target at its meeting as long as the group doesn't have the power to push prices down.

If prices remain above US$60, it will be tough for OPEC to justify a production cut.

There is an increasing challenge for OPEC next year. If you look at what people expected last year, non-OPEC supplies have disappointed and demand has been stronger. The result has been in OPEC's favor. But next year will be tougher. And they will not want prices to drop below $50 a barrel. They will need to cut production.

Craig Pennington

Anyone who wants to cut taxes on energy as an answer to higher oil prices has already lost, ... You would be opening your national budget to OPEC and the oil industry.

The big fear, and the cloud that is overhanging the market is inflation. Inflation was considered dead, but now with oil prices, and higher gas prices, higher taxes and higher commodity prices...all of this with higher activity, eventually it's got to show up.

If prices remain above 60 dollars, it will be tough for OPEC to justify a production cut.

The potential for even higher energy prices is a risk to the economic outlook. The economy has digested the higher prices gracefully so far. But it can get a bit of indigestion if prices move higher.

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