Oil speculators propping up industry says poll
40% of people polled say oil would be $30 a barrel if not for traders
As the price of oil hit a year high of US$74.15 before settling at $73.89, 40% of ArabianOilandGas.com 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.