As of today oils trading at $34 a barrel. What they're say is, they're cutting refining due to the poor economy. The old supply and demand speech, BS more than likely.
I don't think OPEC can do too much, if they could they would, and they've tried. The bright side of this is, a-hole nations like Iran and Venezuela economies need oil to be at least $60 a barrel to survive. And as of now neither has enough surplus to make it threw 2010.
But more than likely we'll all be paying $4 a gal at the dock come this summer.
