Whether to cut or not to cut ????? What is it going to be?

Well seems like the members of OPEC (The Organization of Petroleum Exporting Countries ) are indecisive of whether to cut supply of oil or not. There are two sides to the same story , few of the members namely from the African countries, especially from Libya think that there is no reason at all for an inventory cut since the oil prices and the supply are in balance with each other , they are equally supported by the US who feels that due to the US cold weather news , the OPEC is unnecessarily getting alarmed since the supply at present will meet the cold demanding weather and that the supply is not more at all but just right for the demand.

Where as the Saudi Arabian countries feel otherwise, they feel that the US cold weather will create more demand and hence the US stockpiles will inrease to meet the demand and so they want to further the cut of supply of crude oil.

I feel that the supply and demand are just right and there is no need for anyone to panic, even if the cold increases , the US has the right amount of stock piles and so the regular production of oil by OPEC is sufficient and would not need any cut of supply at all.

But whatever the decision may be , we would know of OPEC's decision on 14th December 2006 , when the OPEC meets next in Nigeria, I hope they keep things as it is , because if they do cut the supply it is very likely that oil prices will go even higher than $65 a barrel during this week.