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Oct 5 - OPEC+ : “Price of The Barrel Going Up”



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 2 months ago '19        #1
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Immersion Vox 
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Oct 5 - OPEC+ : “Price of The Barrel Going Up”
 

 
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VIENNA—The Organization of the Petroleum Exporting Countries and its Russia-led allies on Wednesday agreed to slash two million barrels a day, delegates said, in a move likely to push up already-high global energy prices and help oil-exporting Russia pay for its war in Ukraine.

The decision could undermine a plan by the Group of Seven wealthy nations to cap the price of Russian oil on the global market, a key part of the West’s economic battle with Moscow. It came less than three months after President Biden visited Saudi Arabia, the OPEC’s de facto leader, in a bid to repair relations between the world’s biggest oil consumer and its biggest crude-oil exporter during a period of rising inflation driven in part by high energy prices.

The oil-production cut is the biggest from the group collectively known as OPEC+ since April 2020, signaling its intent to keep prices high after enduring seven years of a relatively subdued market, oil-industry analysts said.

After surging above $100 a barrel in the first six months of the year over Russia’s invasion of Ukraine, oil prices have fallen 32% over the past four months on global economic worries, with international benchmark Brent crude dropping below $83 a barrel for the first time since January. Brent rose 0.6% to $92.38 on Wednesday, after having risen steadily on expectations of a production cut in recent days.

Before the meeting, OPEC+ members framed any decision coming out of the meeting as a technical response to a flagging global economy, especially in China, where Covid-19 restrictions have hurt oil demand.

But analysts said, and in private OPEC+ delegates agreed, that the move would be a big win for Russia, which has lost about a million barrels a day of oil production since the beginning of the war in February. On Dec. 5, Russia faces the prospect of a European Union oil embargo and the G-7 price cap, which threaten to further cut into its sales.

The OPEC+ production cut will limit Russia’s loss of market share, said delegates, who acknowledged it represented an unprecedented effort by the world’s biggest oil producers to collectively help Russia with the political and economic problems caused by the war in Ukraine.

Still, participants said their interests would be well served by the decision by boosting the revenue their petrostates need.

Soon as they announced it gas prices rebounded quick

Knew i should’ve filled up at $2.69 image
+8   



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40 comments
 

 2 months ago '15        #2
Jad95 
Props total: 11666 11 K  Slaps total: 1284 1 K
OPEC, Saudi Arabia, and Russia playing chess. But the last thing we need is for Uncle Sam to knock the whole damn game table over. I think the whole ukraine sh*t is just lowkey payback for the election sh*t. What it looks like to me:

1st - proxy war (election meddling, system and grid hacking)

Then - economic war (sanctions, nord stream 1-2, oil)

Next - all out war (bullets, rockets, nukes).

This sh*t is escalating before our eyes.


;t=JfdYEVRiniiQAUo7QUpFGA
+4   

 2 months ago '22        #3
Booda Sack  topics gone triple plat - Number 1 spot x5
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People voted for the biggest moron to ever touch foreign policy and expected different results. Obama was bad at foreign policy but Biden has always been terrible.



However this administration bully tactics are back firing you can’t just threaten countries to take your side.





Last edited by Booda Sack; 10-05-2022 at 10:03 AM..
-8   

 2 months ago '06        #4
TreZ 
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 Jad95 said
OPEC, Saudi Arabia, and Russia playing chess. But the last thing we need is for Uncle Sam to knock the whole damn game table over. I think the whole ukraine sh*t is just lowkey payback for the election sh*t. What it looks like to me:

1st - proxy war (election meddling, system and grid hacking)

Then - economic war (sanctions, nord stream 1-2, oil)

Next - all out war (bullets, rockets, nukes).

This sh*t is escalating before our eyes.


people still believe that bullsh*t?
+4   

 2 months ago '15        #5
Jad95 
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 TreZ said
people still believe that bullsh*t?
Lol whether or not you believe it says a lot about the propaganda you subscribe to. Because no one knows what really happens in the shadows of politics. Do I really believe that a foreign enemy would use social media to spread propaganda that benefited the people they wanted in office? Yes. Because I believe every country does that. I don’t understand what’s so unbelievable about countries operating in their own best interest? You are choosing to not believe that due to whatever predisposed biases you have.
+4   

 2 months ago '22        #6
Booda Sack  topics gone triple plat - Number 1 spot x5
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 Jad95 said
Lol whether or not you believe it says a lot about the propaganda you subscribe to. Because no one knows what really happens in the shadows of politics. Do I really believe that a foreign enemy would use social media to spread propaganda that benefited the people they wanted in office? Yes. Because I believe every country does that. I don’t understand what’s so unbelievable about countries operating in their own best interest? You are choosing to not believe that due to whatever predisposed biases you have.
The CIA JUST GOT EXPOSED FOR DOING THIS
+3   

 2 months ago '18        #7
dacoolestg 
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 Booda Sack said
People voted for the biggest moron to ever touch foreign policy and expected different results. Obama was bad at foreign policy but Biden has always been terrible.



However this administration bully tactics are back firing you can’t just threaten countries to take your side.



watch out the bx dixiecrats finna be on your headtop
+1   

 2 months ago '15        #8
Jad95 
Props total: 11666 11 K  Slaps total: 1284 1 K
 Booda Sack said
The CIA JUST GOT EXPOSED FOR DOING THIS
Exactly, every country does it. so only a conservative or someone who subscribes to Russian propaganda would believe it’s out of the realm of possibility that Russia would do that. Again, everyone does.
+2   

 2 months ago '15        #9
Still Numskull 
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+6   

 2 months ago '04        #10
ItAlY2BkLyN 
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alright bros here's what I'm looking at

EDR
CVX
PSX
COP
XOM
PXD
OXY

Thoughts? Others?
+2   

 2 months ago '20        #11
Xiox  topics gone triple plat - Number 1 spot x1
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 Booda Sack said
People voted for the biggest moron to ever touch foreign policy and expected different results. Obama was bad at foreign policy but Biden has always been terrible.



However this administration bully tactics are back firing you can’t just threaten countries to take your side.



Let's do that & drive them closer to China & Russia , there will come a time when all this sanctions & tariffs will be meaningless

 2 months ago '22        #12
Booda Sack  topics gone triple plat - Number 1 spot x5
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 Xiox said
Let's do that & drive them closer to China & Russia , there will come a time when all this sanctions & tariffs will be meaningless
The lines are already being split, countries aren’t liking that we are going around threatening them for not supporting a European war and making their citizens suffer. Not so much with our Allie’s but our position globally has suffered we’ve been overplaying our hand and have not been respecting sovereignty all it does it bring countries closer to China.
-1   

 2 months ago '22        #13
Booda Sack  topics gone triple plat - Number 1 spot x5
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+3   

 2 months ago '07        #14
iswerve  topics gone triple plat - Number 1 spot x1
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really got the world by the balls eh?

 2 months ago '15        #15
POTUS2045  topics gone triple plat - Number 1 spot x1
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 ItAlY2BkLyN said
alright bros here's what I'm looking at

EDR
CVX
PSX
COP
XOM
PXD
OXY

Thoughts? Others?
BHP is a strong Oil play too.
+1   

 2 months ago '20        #16
Xiox  topics gone triple plat - Number 1 spot x1
Props total: 75510 75 K  Slaps total: 13773 13 K
The Pentagon stole billions in OPEC oil isn't it fair to try & make back those billions in lost revenues ?

 2 months ago '04        #17
ItAlY2BkLyN 
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+1   

 2 months ago '20        #18
Xiox  topics gone triple plat - Number 1 spot x1
Props total: 75510 75 K  Slaps total: 13773 13 K
 Booda Sack said
People voted for the biggest moron to ever touch foreign policy and expected different results. Obama was bad at foreign policy but Biden has always been terrible.



However this administration bully tactics are back firing you can’t just threaten countries to take your side.



You just told me that Obama is the one calling the shots & we've seen how destructive his presidency was so why would you expect any different
-2   

 2 months ago '20        #19
Xiox  topics gone triple plat - Number 1 spot x1
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 Booda Sack said
The CIA JUST GOT EXPOSED FOR DOING THIS
Dudes on here just like dancing around the truth even when ex 3 letter agency boys tell them what really goes on & what they've done .
+2   

 2 months ago '22        #20
Booda Sack  topics gone triple plat - Number 1 spot x5
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 Xiox said
You just told me that Obama is the one calling the shots & we've seen how destructive his presidency was so why would you expect any different
I didn’t say Obama is calling the shots I said his former staff. Also at least with Obama even though he had terrible policy and decisions making but he had principles and we know he made the final decision. With Biden who knows who making the decision every move seems like one to win the next news cycle and put everything into winning midterms and if everything collapses after then it was worth it.

Biden is emptying the strategic oil reserves while we’re playing proxy war with a Russia and China to bring gas down for midterms. OPEC did this to under cut that so he emptied them for nothing, now he will have to refill them at an even higher cost to give OPEC what they want a higher selling price. So he may have to refill at $80 a barrel and remember when Congress freaked out and denied Trump when he wanted to do it at $25. They totally have 0 idea what they’re doing and it’s obvious.

 2 months ago '18        #21
SFamilyRep  topics gone triple plat - Number 1 spot x4
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 Jad95 said
OPEC, Saudi Arabia, and Russia playing chess. But the last thing we need is for Uncle Sam to knock the whole damn game table over. I think the whole ukraine sh*t is just lowkey payback for the election sh*t. What it looks like to me:

1st - proxy war (election meddling, system and grid hacking)

Then - economic war (sanctions, nord stream 1-2, oil)

Next - all out war (bullets, rockets, nukes).

This sh*t is escalating before our eyes.


Chess you say huh??? Smh
-2   

 2 months ago '20        #22
Xiox  topics gone triple plat - Number 1 spot x1
Props total: 75510 75 K  Slaps total: 13773 13 K
 Booda Sack said
I didn’t say Obama is calling the shots I said his former staff. Also at least with Obama even though he had terrible policy and decisions making but he had principles and we know he made the final decision. With Biden who knows who making the decision every move seems like one to win the next news cycle and put everything into winning midterms and if everything collapses after then it was worth it.

Biden is emptying the strategic oil reserves while we’re playing proxy war with a Russia and China to bring gas down for midterms. OPEC did this to under cut that so he emptied them for nothing, now he will have to refill them at an even higher cost to give OPEC what they want a higher selling price. So he may have to refill at $80 a barrel and remember when Congress freaked out and denied Trump when he wanted to do it at $25. They totally have 0 idea what they’re doing and it’s obvious.
Why is he still in DC ?

 2 months ago '22        #23
Booda Sack  topics gone triple plat - Number 1 spot x5
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 Xiox said
Why is he still in DC ?
Didn’t know he was, maybe he is and is just leading his staff in what they should do and they just confuse the old man to go through with it. Look at what military generals and staff did to Trump they hid info from him or lied to stop him from making decisions they didn’t like probably no different here.

 2 months ago '15        #24
Jad95 
Props total: 11666 11 K  Slaps total: 1284 1 K
 SFamilyRep said
Chess you say huh??? Smh
…yes. Any questions?


 2 months ago '16        #25
BathWaterMelody  topics gone triple plat - Number 1 spot x11
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 Booda Sack said

so we can count on your vote for Ro Khanna whenever he runs for POTUS in 2024?
+1   



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