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Message
Crude Oil up 8% as OPEC Agrees to Cut Output
Posted on 11/30/16 at 10:35 am
Posted on 11/30/16 at 10:35 am
LINK
quote:
First cut since 2008 is seen ending a global glut and 2-year price war Oil prices jumped more than 8% on Wednesday to a five-week high as newswires reported that the Organization of the Petroleum Exporting Countries had agreed its first oil output cuts since 2008. An OPEC source told Reuters on Wednesday that the cartel, which produces one-third of the world’s oil, had firmed up an agreement in line with a tentative deal reached in Algiers in September. That would involve cutting output from a current level of around 33.6 million barrels a day to somewhere between 32.5 million and 33 million.
15
Posted on 11/30/16 at 10:37 am to texastigers11
So what's the OPEC sweet spot for price/bbl?
Posted on 11/30/16 at 10:37 am to texastigers11
Someone else will increase. Doesn't mean much.
Posted on 11/30/16 at 10:38 am to texastigers11
What about demand? When is that going to increase?
Posted on 11/30/16 at 10:39 am to texastigers11
Owners of gas stations rush outside to raise price on pumps even though this won't affect their pricing for weeks or months.
Posted on 11/30/16 at 10:43 am to texastigers11
Cool,oil is literally being found in every corner of the world, a new mega field was found in Texas, the price is still too high considering it's not as rare as we once thought it was. It is not a finite resource.
Posted on 11/30/16 at 10:47 am to texastigers11
I'll start polishing my truck nuts tonight.
FINNA EAT!
FINNA EAT!
Posted on 11/30/16 at 11:04 am to texastigers11
Posted on 11/30/16 at 11:06 am to texastigers11
#MAGA
Posted on 11/30/16 at 11:34 am to texastigers11
Artifically limiting supply?
Eek.
Eek.
Posted on 11/30/16 at 11:40 am to texastigers11
SELL THE FEMA TRAILERS AND UPGRADE TO DOUBLE WIDES BAWS!
Posted on 11/30/16 at 12:37 pm to texastigers11
Trump's BFF Putin will have more money to make mischief with> MAGA.
Posted on 11/30/16 at 12:41 pm to texastigers11
I've been telling people to buy BP and XOM stock and everyone laughed at me. Please don't come back with a counter argument as I don't know enough to put up a reasonable fight. Thanks
Posted on 11/30/16 at 12:42 pm to texastigers11
Please just start drilling in the gulf again. frick
Posted on 11/30/16 at 12:48 pm to texastigers11
quote:
an agreement in line with a tentative deal reached in Algiers
Westbank doing work, son
Posted on 11/30/16 at 2:20 pm to texastigers11
does this mean it's safe to polish up the ole truck nuts?
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