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Oil speculators propping up industry says poll

40% of people polled say oil would be $30 a barrel if not for traders

Crude oil, LG Economic Research Institute, Oil and gas Saudi Arabia, Oil and gas uae, Oil price, Oil prices Middle East, OPEC, South Korean think tank, World crude oil prices, BLOG

As the price of oil hit a year high of US$74.15 before settling at $73.89, 40% of readers have said that they believe that if it wasn’t for speculators oil would be languishing at around $30 a barrel.

In a poll carried out over the last week on our homepage, 36% of voters said they believed that the opposite was true and that the same speculators were playing Russian roulette with the whole industry, while 24% said that they believed tighter regulatory controls were necessary and that even a move to long term contracts would be a better option.

Who do you agree with? Please leave a comment below or feel free to send us your views via email.


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