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Started By
Message
Oil Price War Ends With Historic OPEC+ Deal to Cut Output
Posted on 4/12/20 at 4:30 pm
Posted on 4/12/20 at 4:30 pm
quote:
The world’s top oil producers pulled off a historic deal to cut global petroleum output by nearly a 10th, putting an end to the devastating price war between Saudi Arabia and Russia.
Oil Price War Ends With Historic OPEC+ Deal to Cut Output
This post was edited on 4/12/20 at 4:31 pm
25
Posted on 4/12/20 at 4:31 pm to hollowpoint
Truck nuts for everyone
Posted on 4/12/20 at 4:32 pm to hollowpoint
One of the actual times we get to use the word decimation.
Posted on 4/12/20 at 4:32 pm to hollowpoint
Orange Man [good] bad
Posted on 4/12/20 at 4:33 pm to hollowpoint
Just coming to post this. We need some good news.
Posted on 4/12/20 at 4:33 pm to hollowpoint
Better go fill up, post haste.
Posted on 4/12/20 at 4:35 pm to hollowpoint
But, isn't demand off by more than 10%?
Posted on 4/12/20 at 4:36 pm to hollowpoint
It will be months before anything changes. Way way way too late to save some of the small players.
Posted on 4/12/20 at 4:37 pm to East Coast Band
quote:
But, isn't demand off by more than 10%?
Yes. This just sets up the recovery to (hopefully) be faster and stronger as the economy starts rolling.
Posted on 4/12/20 at 4:37 pm to hollowpoint
Trump = leader
Posted on 4/12/20 at 4:38 pm to East Coast Band
quote:
But, isn't demand off by more than 10%?
Closer to 40% that’s why it won’t matter until the economy is back wide open and the birds are flying full flight schedules
Posted on 4/12/20 at 4:38 pm to hollowpoint
So are we part of OPEC now? These are weird times.
Posted on 4/12/20 at 4:42 pm to hollowpoint
Demand is still a issue
Posted on 4/12/20 at 4:44 pm to hollowpoint
quote:
The world’s top oil producers pulled off a historic deal to cut global petroleum output by nearly a 10th
Not that 10% is small, but didn't Saudi up the production by more than 10% at the start of this price war?
I guess my question is, what was production before Saudi and Russia kicked off this whole thing, and what is going to be production under this new deal.
Posted on 4/12/20 at 4:45 pm to SOLA
quote:
We need some good news.
You're not all going to die from lung failure doesnt suffice
Posted on 4/12/20 at 4:50 pm to hollowpoint
quote:
The talks almost fell apart because of resistance from Mexico, but came back from the brink after a weekend of urgent diplomacy, including the personal intervention of President Donald Trump, who helped broker the solution.
You can tell CNN didn’t write this.
Posted on 4/12/20 at 4:55 pm to hollowpoint
Seems like lower prices for raw materials would be a better thing for the economy than higher oil prices?
Posted on 4/12/20 at 4:59 pm to hollowpoint
$2/gallon gas is more than enough for everyone to make tons of money.
Posted on 4/12/20 at 5:09 pm to BeepNode
It is because we are all consumers of goods impacted by oil prices. High prices benefit a few special interests.
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