E-Commerce News: Business : Oil Prices Drop After EU Cuts Forecast

E-Commerce News: Business : Oil Prices Drop After EU Cuts Forecast

A number of indicators I watch suggest that oil prices are at or near their peak for this year. The above article talks about the slow down in Europe that is reducing demand. The growth rate in the US is healthy but not as strong as last year.

The current price is high enough to effect the driving and other usage habits of Americans. The market is adjusting. No one knows when Iraq will be pumping another 5 mm barrels per day. The combination of conservation and new supply is already having a small effect. Profit growth in the US is still strong. Stocks and real estate should do well for the next two or three years.