Oil demand in the US is 800,000 daily, its lowest in 25 year and Oil prices drop to $113.00 ?

Question

should America people keep the demand low so oil prices go down?

Answer 1

Well, it sure beats paying higher prices at the pump.  

The problem is that we live in a global economy and the increase in demand in places like China and India are going to far outweigh any savings we can achieve.  In the long term prices will go up.  

Evidence of this is that although our demand is the lowest in 25 years the price is still well over $100.  At this time last year oil was well under $100 (I seem to recall it was around $60).  If we were driving the market oil would probably be selling for well under $50.

Hope this helps

Jerry-the-bookkeeper