DALLAS— The recent run-up in crude prices to $60-plus from under $40 earlier this year isn’t necessarily evidence that the economy is recovering, Exxon Mobil Chairman and CEO Rex Tillerson said Wednesday. Oil demand remains down while supply is robust amid the lingering global recession, so those fundamentals don’t support crude’s slow uptick.
No, it's more a function of OPEC communications and our weakening dollar...
[I.e., spending like drunken sailors on everything but our own oil reserves.]
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