Conclusion

As I had said before, the oil market is very complex. There are many factors that affect it, and the small details can create huge problems. That is why I choose this topic; it helps us to understand the other side of the story. You see gas prices go up, you know that something has happened. I have learned a lot about what goes on now, and reasons why certain things happen. I hope that you as a reader have learned as much as I have about this topic. I look forward to reading other blogs and learning more about their topics (especially http://pmacworldissues.blogspot.com/).

I hope you enjoyed my blog

Sincerely, B Gronk

The oil market is overstocked

http://www.reuters.com/article/2011/04/17/us-saudi-oil-idUSTRE73G14020110417

This last article is important news that occurred on April 17^th 2011, and it’s about how Saudi Arabia’s oil minister says that the oil market is overstocked. "The market is getting tighter and if it is tighter the price may go up, which may have a negative impact to economic growth," Nobuo Tanaka, the head of the International Energy Agency said. Oil ministers from different parts of the world believe that the oil prices are out of the hands of OPEC (Organization of the Petroleum Exporting Countries). Saudi Arabia’s oil minister says that we are cutting output supply (800,000 barrels per day) in order to send a signal to OPEC about the outrageous prices.