Oil still undecided where to lead??

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The Organization for Petroleum Exporting Countries will be meeting on 14th December 2006 in Nigeria, as everyone is expecting a cut in the oil output since the 11 member countries of OPEC want to stabilize oil prices after it fell from a peak $78 a barrel in July to below $60 a barrel in October. Prices however, have been hovering between $62 - $63 a barrel since last week and the prices have been inching upwards due to two reasons, one being the OPEC’s possible cut and the other being the threats of further attacks by militants on oil facilities in Nigeria after a raid on an export terminal in which four foreign workers were kidnapped. But I feel that oil prices may rise further since the northern hemisphere is now entering a severe cold spell , even though there is still good inventory with the US, in fact the US stockpiles rose 14 percent more than the average. But this is the wrong time when the OPEC would be cutting the oil production bringing more trouble and oil is likely to range between $62 - $64 a barrel. For more information visit investormarketnews.blogspot.com