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Started By
Message
OPEC+ producers accelerate crude oil output hikes, pushing oil prices down 6%
Posted on 4/3/25 at 8:08 am
Posted on 4/3/25 at 8:08 am
quote:
Eight key OPEC+ producers on Thuesday agreed to raise combined crude oil output by 411,000 barrels per day, speeding up the pace of their scheduled hikes and pushing down oil prices.
The Ice Brent contract with June delivery was trading at $70.50 per barrel at 1:32 p.m. London time (8:32 a.m. ET), down 5.94% from the Wednesday close. The front-month May Nymex WTI contract was at $67.11 per barrel, 6.41% lower.
LINK
3
Posted on 4/3/25 at 8:11 am to Jjdoc
I will edit to withhold comment.
This post was edited on 4/3/25 at 8:16 am
Posted on 4/3/25 at 8:14 am to SlowFlowPro
You continue to be a dumb arse.
They are lowering it because Trump asked them to.
They are lowering it because Trump asked them to.
Posted on 4/3/25 at 8:17 am to SlowFlowPro
Could be two pronged. Hurt the US oil industry and try to break the Russians?
Posted on 4/3/25 at 8:18 am to KiwiHead
quote:
Could be two pronged. Hurt the US oil industry and try to break the Russians?
Yes I'm looking into JJ's claims before I comment again.
It appears his prior request was specifically for the war, but this will hurt US production, which raises questions of why we'd do this during a time of such uncertainty and hurt America
Posted on 4/3/25 at 8:29 am to SlowFlowPro
So let me get this straight, high prices for energy are a good thing? MORON ALERT
Anything above $50 a barrel and US companies are making money, not as much but still can run operations. We are no where near $50 a barrel.
Lower energy will mean cheaper goods = more disposable income.
It ain't Rocket Surgery....
Anything above $50 a barrel and US companies are making money, not as much but still can run operations. We are no where near $50 a barrel.
Lower energy will mean cheaper goods = more disposable income.
It ain't Rocket Surgery....
Posted on 4/3/25 at 8:58 am to SlowFlowPro
quote:
I will edit to withhold comment.
Best post you’ve ever made
Posted on 4/3/25 at 9:03 am to OldManHenry
quote:
We are no where near $50 a barrel.
And we won't get there. Key excerpt from the article:
The May hike agreed on Thursday is “equivalent to three monthly increments,” OPEC said in a statement, adding that “the gradual increases may be paused or reversed subject to evolving market conditions.”
$50/bbl oil is not good for OPEC.
Posted on 4/3/25 at 9:06 am to SlowFlowPro
quote:
I will edit to withhold comment.
I can’t say anything negative from this action, so I’m holding a spot hoping something negative comes from this so I can immediately do what I do best.
This is as sad as a grown male human can be.
Posted on 4/3/25 at 9:09 am to Jjdoc
quote:Maybe Trump can slap a tariff on it!
OPEC+ producers accelerate crude oil output hikes, pushing oil prices down 6%
This post was edited on 4/3/25 at 9:10 am
Posted on 4/3/25 at 9:11 am to Taxing Authority
The tariff melt from the tards is the greatest yet
Posted on 4/3/25 at 9:13 am to SDVTiger
quote:Who's melting? WHy do you want O&G jobs shipped overseas? We need those jobs for American workers. Tariffing oil seems like a no brainer, doesn't it?
The tariff melt from the tards is the greatest yet
Posted on 4/3/25 at 9:15 am to Taxing Authority
quote:
Who's melting? WHy
Calm down snowflake
Posted on 4/3/25 at 9:25 am to Tigerfan1274
I'm hoping for around $60-$65 a barrel in 7 or 8 months...
That would be a perfect spot for profit and for consumers.
We shall see..
That would be a perfect spot for profit and for consumers.
We shall see..
Posted on 4/3/25 at 9:35 am to Taxing Authority
quote:
Who's melting?
You are along with all the other leftards and cult of ron
You idiots cant even tell us how much more we will be paying
Its the greatest
Posted on 4/3/25 at 9:38 am to Jjdoc
Who will that economically benefit, and harm? Does Trump's tariffs include imported oil? Does cheap energy mitigate inflation and stimulate the economy? Does Russia and Iran profit or lose? Leftist Venezuela? Given China's massive loss of US consumers, does their manufacturing base and need for oil go down? Will the (re) construction of the US manufacturing base and economic stimulus therein - coupled with OUR cheap oil - be sufficient to encourage Oil Co.'s to invest in "drill baby drill"?
I assume that Trump's economic advisors have answers to all these questions.
I assume that Trump's economic advisors have answers to all these questions.
Posted on 4/3/25 at 9:42 am to RCDfan1950
quote:
Does Trump's tariffs include imported oil?
I don't believe oil is part of the tariffs. Even if they are, oil is so fungible (because supply in the U.S. is sufficiently high) it can be easily avoided.
Posted on 4/3/25 at 9:46 am to SlowFlowPro
I assume you already read CNNs take on this as a sign of recession 
Posted on 4/3/25 at 4:14 pm to OldManHenry
65/ 67 good for the producers and oil states economies like LA and OK
Posted on 4/3/25 at 4:16 pm to SlowFlowPro
quote:
I will edit to withhold comment.
Wow.. thats a big move
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