According to analysts at Raymond James, not only has oil production peaked, but it happened for non-OPEC oil back in the 1st Q 2007. OPEC a little later - 1Q 2008.

Look for oil prices to head right back up to where you really don’t want to see them as soon as demand starts to return to normal.

This entry was posted on Tuesday, May 5th, 2009 at 5:10 pm and is filed under Fuel Price Trends, Gas price, Fuel cost. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.