Glut of Oil

There is a Glut of oil in the Middle East and yet the European Oil prices hit USD 82!
With the UAE still having problems with Dubai re-financing I hope it means that they will use common sense and start to sell off at lower prices.

Also, with about 500,000 apartments empty in Dubai the government will need money to help the debt strapped locals.

I look to oil prices to come down to USD65