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Oil prices could rise as Saudi Arabia announces cuts of 500,000 barrels daily
Posted on 4/2/23 at 11:59 am
Posted on 4/2/23 at 11:59 am
quote:
DUBAI, United Arab Emirates (AP) — Saudi Arabia said Sunday it will cut oil production by 500,000 barrels per day from May until the end of 2023, a move that could raise prices worldwide.
Higher oil prices would help fill Russian President Vladimir Putin’s coffers as his country wages war on Ukraine and force Americans and others to pay even higher prices at the pump amid inflation fueled in part by that conflict.
It was also likely to further strain ties with the United States, which has called on Saudi Arabia and other allies to increase production as it tries to bring prices down and squeeze Russia’s finances.
read more
22
Posted on 4/2/23 at 12:00 pm to RLDSC FAN
quote:
Oil prices could rise
Could they also not?
Started bookmarking the fear mongering...
GasBuddy Chief Analyst says $4 national avg by 4/1 or sooner
This post was edited on 4/2/23 at 12:02 pm
Posted on 4/2/23 at 12:05 pm to RLDSC FAN
It was nice when we were energy independent instead of having to cry on our knees to a bunch of countries that hate us.
Posted on 4/2/23 at 12:08 pm to Deuces
quote:
It was nice when we were energy independent instead of having to cry on our knees to a bunch of countries that hate us.
When was that?
Posted on 4/2/23 at 12:12 pm to redstick13
quote:
When was that?
It felt good when he said it.
Posted on 4/2/23 at 12:14 pm to RLDSC FAN
Summer blend coming soon.
Posted on 4/2/23 at 12:16 pm to Deuces
People repeat the energy independence thing way too much and really don’t know what it meant or what it means
Posted on 4/2/23 at 12:23 pm to redstick13
quote:
t was nice when we were energy independent instead of having to cry on our knees to a bunch of countries that hate us.
When was that?
When Trump was President
Posted on 4/2/23 at 12:26 pm to notiger1997
quote:
People repeat the energy independence thing way too much and really don’t know what it meant or what it means
meant gas was a lot cheaper than now, good enough for me
Posted on 4/2/23 at 12:27 pm to RLDSC FAN
quote:
Oil prices could rise
Will rise and just what the dems want.
Posted on 4/2/23 at 12:27 pm to RLDSC FAN
Posted on 4/2/23 at 12:30 pm to Double Oh
quote:
When Trump was President
Can you show me in the data below where the US imported 0 barrels of oil?
Posted on 4/2/23 at 12:31 pm to redstick13
quote:
redstick13
Posted on 4/2/23 at 12:32 pm to fightin tigers
Would like to know democrats end goal. For everyone to own nothing and beg to the government for mercy?
Posted on 4/2/23 at 12:32 pm to RLDSC FAN
Thanks Obama
Posted on 4/2/23 at 12:33 pm to RLDSC FAN
quote:
It was also likely to further strain ties with the United States, which has called on Saudi Arabia and other allies to increase production as it tries to bring prices down and squeeze Russia’s finances.
At this point, calling Saudi Arabia "allies" is stretching it. Biden has made sure of that, claiming to treat them as pariahs, then begging them to increase oil production after he alienated US oil producers.
Posted on 4/2/23 at 12:33 pm to rhar61
quote:
meant gas was a lot cheaper than now, good enough for me
You mean when demand dropped to zero because we were shutting down economies.
Good times for sure.
Posted on 4/2/23 at 12:34 pm to redstick13
Energy independent is way different than saying we didn't import any oil. You either know that and are trolling or you are an idiot for not knowing it. Both make you a loser.
Posted on 4/2/23 at 12:35 pm to fightin tigers
quote:
You mean when demand dropped to zero because we were shutting down economies. Good times for sure.
So gas was expensive before covid?
I was paying $2.20 a gallon in Louisiana in December of 2019, which was not common. Covid made it drop into the $1.00’s, yes.
Posted on 4/2/23 at 12:37 pm to SlimTigerSlap
Saudi et Al are calling Biden admin bluff. SPR dump and EIA reporting shenanigans helped to put prices down into the 60’s briefly. They are about to see how many of the short sellers actually have oil. The physical market is much tighter than the trading of the last couple of months. Lots of speculation that a lot of paper contracts have been driving the volatility. Opec just put them on notice.
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