Tuesday, January 3, 2012

How does an OPEC spokesperson's statement that oil price is where it should be translate mechanically ?

A comment was made that an OPEC spokes person that Oil Prices were "just right" right now. How, mechanically speaking, does the say so of an OPEC representative about what he thinks oil prices should be, translate to actual oil price increase in price on the exchange? Does he or another rep(s) bid the oil price up while he speaks? Somebody's has to be doing something in the market to get that price up! Right? Somehow, somebody is trading, is buying right while the OPEC guy is making his statement and there is no other news other than the speaking of this rep that appears to be changing oil price. And yet....the news is put out before the rep speaks, that statistically, oil demand is falling!? Go figure! Is this major market manipulation? Should somebody be going to jail..... by rights? Where is supply and demand?

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