Signs that oil supply may increase

I take back what I said,perhaps Gordon Brown has an influnence on the oil producers.

Sky news reports that

The world's leading oil producers have said it is too expensive - and they plan to increase supplies to help ease the global fuel crisis.A source at Opec said its 13 members were uncomfortable with the current price of crude, which last week hit a record $135 a barrel.
Based on present supply and demand, he said it should be fetching $60-$70 a barrel

and Timesonline reports

Plans for increased North Sea oil production were outlined by the Government today as ministers gave the green light for two new field development.
Business Secretary John Hutton also announced changes to the system for licensing oil fields in the North Sea and said there had been a record amount of interest in the latest licensing rounds.