The Oil Patch

And it hasn’t been falling, as the Obama Administration wishes. There is no indication the OPEC decision not to raise quotas, intended to boost prices, or the Obama Administration decision to release some oil from stocks, intended to lower prices, had any impact whatsoever. The market is just too complex for such maneuvers. But forget those daily jigs and jogs. Look at the monthly averages below. Oil has been pretty steady now for six months.