OPEC, China demand factors and the future of crude oil prices by 2015

Two off the beaten track articles that are a must read for Crude Oil bears.

The first focuses on production and shipments by OPEC members and the first prediction by a serious oil player that prices will crash below 60 US$ by the end of this year and perhaps even lower within the next 5 years if OPEC members do not stop playing games with production quota compliance.

The second on China’s rise as an exporter of refined products, the linkage of its demand and consumption to increased refinery capacity and the first question I have seen putting hard data showing a core issue with China demand increase projections.

Don’t believe everything you read on this blog, but take out the time to read the above two pieces. They will certainly cheer you up.