2011-05-29financialsense.com

``The somewhat shocking news that followed just a few days after the above article was the begging by the IEA for OPEC to lift production... Although the New York Times has positioned this unusual call by the IEA as perhaps a bit of political maneuvering, I feel they missed the real picture by not spending more time characterizing the mismatch between supply and demand. If that's true, then we have a near-perfect repeat of the 2008 situation, where, in the six quarters preceding the oil price spike, demand exceeded supply in five of those quarters.''


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