I just read the news in Financial Times about Goldman Sachs analysts predicting oil to touch $200 mark in 6 to 24 months(FT news).
I am wondering, with whatever oil price rise that has taken place in past 2-3 years. I have never heard a single news stating that certain country is unable to meet its demand for Oil. This gives me the feeling that somehow at whatever high price the demand is still being met - as there is no hue and cry about some country wanting to buy oil and not being able to buy. And I am quite sure that the demand for oil by any country is not going down due to higher prices (had the prices been lower - countries would perhaps have consumed even more oil, but high prices do not seem to have reduced the demand). So, demand has been increasing and somehow supply has been able to meet the demand. Then, isn't the steep rise in oil price only a reflection of speculation of traders and
Oil cartels ?
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