Crude oil fell again yesterday on Wall Street, leading to a stagnate
eight weeks for the sector as prices continue to fall. Whether or not
you are invested within Oil maybe you should be as recent indicators
prove the oil industry to be very bullish now long-term. Despite the
drop in oil prices, oil futures continue to rise proving that
prosperous times are ahead of us. More prospective news came along
yesterday when OPEC reported that they expect global oil consumption
to grow a modest 500,000 barrels a day in 2010, after fall the
previous two years. Goldman Sachs also predicts similar results saying
higher oil prices will be fueled by a stronger economy and higher
global demand especially in China, India, the Middle East, and Latin
America. In OPEC’s monthly market update, they stated that oil would
fall barely to around 1.6 million barrels a day. This results in only
a small decline around 83.8 less million barrels a day as the world
economy stagnates.  Though the good news overall is that these recent
projections are less severe than we had projected last month. World
oil demand is just following the same path the current world economy
is taking by settling down after struggling through the long hauls.To
read more about the Bullish prospects of Oil and of COP check out:

Stocks on Wall Street.net (No Spaces) and click on the Featured
article "Despite Recent Slowdown, I Remain Bullish on Oil"