The thing most commentary fails to mention is output of WHAT? OPEC says "we could increase output by a million barrels a day and no-one will buy it" and you know what? I believe them... there's no where to process it because it's SOUR!
The age of sweet oil is turning sour. OPEC have already admitted that.
http://eclipsenow.org/Facts/NotConvinced.html
It would just be nice to hear the media and governments admit what the REAL story was... at least the New York Times has come some of the way in the right direction.
http://www.nytimes.com/2005/08/21/ma...0540f7&ei=5070