View Full Version : Oil Production to reach prewar levels 2006
11-13-2005, 01:57 AM
NEW YORK - Iraqi Deputy Prime Minister Ahmad Chalabi said on Friday the OPEC member could return its oil exports to pre-war levels by mid 2006.
"So goes the oil, so goes the dinar" Lance
11-13-2005, 02:13 AM
Great to hear that, but practically there is no movement at all. I think if nothing happens after the elections then it might be a very very long term investment.
I firmly believe that dinar should be released, it is bound to creep up gradually with improvement in economy, though it might slip initially:D
11-13-2005, 01:28 PM
Ramis, You are correct they are holding the dinar at its current level with this defacto peg. I believe this is creating an artificial support level in the 1460-1475 area, when this is lifted expect a rubber band effect. The market will find natural support and resistance levels. I expect a sudden movement in price in the dinar should it be released to the currency markets rather than pegged.
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