cheaper gas prices..?

1) Supply is up.
2) Demand is down.
3) A barrel of oil is $ 40.00 down from $150.00 a barrel…….md

the high prices recently got them to bump up the oil extracting so the supply increased by a lot…now their worried that the price is too low so they are slowing production (the low prices won’t last sadly)

Prices where increased by demand and where further increased by the stock market speculators. demand decreased by over exaggerated prices causing a increase a supply making prices go down as well as the stock prices pushing oil price do down below prices that even OPEC could not control.

supply has been goin up as demand projections from before the economy went down and demand has gone down…therefore considered overproducing when americans n others around the world r tryin 2 conserve n drops gas n oil prices (currently @ $37.90)

OPEC has reduced production by around 2 million barrels a day to stem the free-fall price of crude oil. Hasn’t worked as they has planned. Crude oil prices are under $36 a barrel. Demand continues to decrease. One sad reason is the number of people out of work due to layoffs or complete loss of employment. Also the number of people that got rid of gas guzzlers and purchased high gas mileage cars. Those people are still using less gasoline. So demand continues to drop.