For the sake of argument, take a look at the global oil front… economic recession has slashed drilling investment in non-OPEC nations, fanning a "fear-of-the-future" mentality among many traders that crude supply will once again tighten as the economy recovers. Fewer non-OPEC barrels down the road will bump up the world's reliance on OPEC crude, which currently supplies about four in 10 barrels consumed daily worldwide. Although still relatively weak, oil prices are up about 35% since two months ago. Saudi Arabia, the cartel's largest producer and the only OPEC nation in the G20, has added incentive to keep production steady because it doesn't want to be seen spoiling the G20's big stimulus plan for the ailing world economy, announced in April, by backing measures that could sock consumers with higher oil prices. Millions of consumers globally are still struggling with sharp reductions in personal wealth, large debts and rising job losses that have yet to bottom out in many nations.
