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


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 4 months ago '19        #41
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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   
 4 months ago '15        #40
Still Numskull 
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+6   
 4 months ago '06        #39
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   
 4 months ago '15        #38
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   
 4 months ago '22        #37
KING7 
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Now I understand how WW1 n WW2 started

Wars between superpowers don't start over night, this war started in 2014 coup in the Ukraine and now we in the final act, nukes will start dropping before Xmas
+4   
 4 months ago '15        #36
Jad95 
Props total: 13578 13 K  Slaps total: 1486 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   
 4 months ago '22        #35
Booda Sack  topics gone triple plat - Number 1 spot x10
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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   
 4 months ago '04        #34
ddash 
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 daman729 said
Theye all full of sh*t. I was at Circle K. Gas was 2.98 1or 2 days ago. Today it was 3.24 smh.
I saw a 20 cent rise here too.

That $7 hurt man.Back in eco mode for me lol
+3   
 4 months ago '22        #33
Booda Sack  topics gone triple plat - Number 1 spot x10
Props total: 26128 26 K  Slaps total: 16777 16 K

+3   
 4 months ago '15        #32
Jad95 
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 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   
 4 months ago '04        #31
ItAlY2BkLyN 
Props total: 51877 51 K  Slaps total: 10745 10 K
alright bros here's what I'm looking at

EDR
CVX
PSX
COP
XOM
PXD
OXY

Thoughts? Others?
+2   
 4 months ago '19        #30
Immersion Vox  OP
Props total: 15236 15 K  Slaps total: 1985 1 K
 Booda Sack said

Somebody cut this man off tell him stop wasting the reserves and start planning to refill that sh*t back up


Its over rn, OPEC chose Russia
+2   
 4 months ago '20        #29
CopyCat 
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The US has always favored Saudi Arabia and Russia for their oil and shat in the 3rd world so I'm a little indifferent about Satan's little helper (Saudi Arabia) is turning on Satan

KSA never loved America it just used to make it self super rich with it's abundant oil supply


Last edited by CopyCat; 10-05-2022 at 07:20 PM..
+2   
Top 10 most slapped recently  4 months ago '20        #28
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   
 4 months ago '11        #27
Tony Franks  topics gone triple plat - Number 1 spot x2
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US leaders and their allies are creating this conflict and helping to create the oil issue, then will blame Putin for why all countries are struggling very soon.
+2   
 4 months ago '21        #26
Busterdog 
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Stop selling them weapons and essentially guaranteeing their safety in the Middle East, let them try and continue playing their bullsh*t games with all those other countries that surround them without US/UK arms.
+2   
 4 months ago '15        #25
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   
 4 months ago '04        #24
ItAlY2BkLyN 
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+1   
 4 months ago '18        #23
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   
 4 months ago '16        #22
BathWaterMelody  topics gone triple plat - Number 1 spot x13
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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   
 4 months ago '19        #21
Immersion Vox  OP
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 Xiox said
The Pentagon stole billions in OPEC oil isn't it fair to try & make back those billions in lost revenues ?
They’re more concerned with how this helps Russia pad the fallout from the coming cap on its oil prices + other economic moves
+1   
 4 months ago '19        #20
Jp07 
Props total: 6347 6 K  Slaps total: 1108 1 K
 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.


Yemen also just called off the cease fire and threatened all oil companies operating in Saudi Arabia. I'm sure that will affect prices
+1   
 4 months ago '09        #19
GREAT1NE  topics gone triple plat - Number 1 spot x1
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Gonna have to keep blowing up more pipelines lol
+1   
 4 months ago '12        #18
daman729 
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Theye all full of sh*t. I was at Circle K. Gas was 2.98 1or 2 days ago. Today it was 3.24 smh.
+1   
 4 months ago '22        #17
Voodoopocalypse  topics gone triple plat - Number 1 spot x6
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OPEC nuh stop nuttin


+1   


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