Oil drops as OPEC keeps quotas steady

The price of crude oil has declined after the Organization of Petroleum Exporting Countries (OPEC) decided to keep production quotas unchanged.

In its ministerial meeting in Angola's capital Luanda on Tuesday, OPEC officially agreed to keep its production quotas steady.

It also called on members to improve their compliance with production cuts which they had agreed upon last year.

Some market analysts believe OPEC may need to get closer to output targets if it wants to keep prices above $70 a barrel going into 2010.
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We have a totalitarian corporate fascist Government says Bob Chapman on The Sovereign Economist 23 Dec 2009

Bob Chapman's source informed him that during next year there will be a devastating war in the middle east , that Iran when attacked by Israel will retaliate by attacking Saudi Arabia and United Arab Emirates , Dubai thus will become a ghost town , Bob Chapman advice you withdraw your investments from there while you still can , you risk losing it all...In any way Merry Christmas to all of you and please if you like this blog and appreciate the hard work and dedication behind it click on the donation button in the side bar ...anyways Merry Christmas to you all and happy Holidays and happy new year 2010.......

Bob Chapman is 72 years old. He was born in Boston, MA and attended Northeastern University majoring in business management. He spent three years in the U. S. Army Counterintelligence, mostly in Europe. He speaks German and French and is conversant in Spanish. He lived in Europe for six years, off and on, three years in Africa, a year in Canada and a year in the Bahamas.
Bob Chapman also known as The International Forecaster was the largest gold and silver stock broker in the world for 28 years was a trader for 25 years , He owned his own Brockerage Firm for 18 years