[lbo-talk] Oil can fall to $50-$60 if credit stays tight

[Percival Myers]

On Thu, Oct 16, 2008 at 10:18 AM,  <uvj at vsnl.com> wrote:
> Oil can fall to $50-$60 if credit stays tight
> http://www.reuters.com/article/GCA-Oil/idUSTRE49C3WH20081013?sp=true
>
> Mon Oct 13, 2008
>
> By Richard Mably - Analysis
>
> LONDON (Reuters) - World oil prices are likely to fall further if the rush
> to cash across global financial markets continues but crude is unlikely to
> dip for long below the oil industry's $50-a-barrel average operating cost,
> analysts said.

I've read here and elsewhere, the price of a barrel of oil is falling
because demand is falling.
Has anyone ran the numbers to see how many have stopped commuting and
whatever else we might be doing to generate that demand?

I've read here and elsewhere, that day traders speculating on oil
futures etc. had very little if anything to do with the cost of a
barrel of oil.
Has anyone ran the numbers to see what the volume of crude trades is
now and compared it to the volume two or three months ago?

Percy