Oil - reversal due?

Now that the drop in oil prices is "daily news" mabye it will shift yet again. Will Opec cut production?



Oil Contract Dips Briefly Below $60 a Barrel, as Speculators Bet on Lower Prices - New York Times

“The oil market’s fundamentals have finally asserted themselves,” the Centre for Global Energy Studies in London said in a report on Monday. Markets reached a point recently where “the upward momentum of oil prices disappeared, and it will therefore take a combination of special factors to bring it back,” said the group, which was founded by a former Saudi petroleum minister.