Iraq helps drive the price of oil down

by **Cascadian** Fri Jan 02, 2015 4:06 pm

Oil dropped to the lowest in more than five and a half years amid growing supply from Russia and Iraq and signs of manufacturing weakness in Europe and China.
Futures capped a sixth weekly loss in New York and London. Oil output in Russia and Iraq surged to the highest levels in decades in December, according to data from both countries’ governments. Euro-area factory output expanded less than initially estimated in December. Amanufacturing gauge in China, the world’s second-largest oil consumer, fell to the weakest level in 18 months, government data showed yesterday.
Prices slumped 46 percent in New York in 2014, the steepest drop in six years and second-worst since trading began in 1983, as U.S. producers and the Organization of Petroleum Exporting Countries ceded no ground in their battle for market share. OPEC pumped above its quota for a seventh month in December even as U.S. output expanded to the highest in more than three decades, according to data compiled by Bloomberg.

by **Cascadian** Fri Jan 02, 2015 4:06 pm

They are trying to snag a few extra bucks but ultimately are hurting themselves by driving the overall price down.

Good for us. Bad for them and any RV

by **RoyBoy** Sat Jan 03, 2015 2:49 pm

Where is the want ad's at???? ( Wanted !!! Big a_s fuel barrel , enough to hold my 401 Ks worth of fuel oil. Must hold and no leakage. Contact ssmith or Terbo at the open bar re-lease ) TY