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re: The reality about the price of oil - Facts
Posted on 7/17/26 at 9:12 am to Penrod
Posted on 7/17/26 at 9:12 am to Penrod
quote:
That’s a specific tactic to drive prices up by eliminating competition. BTW, that was a near existential business event for me.
Me too, was laid off spring 2015.
quote:
I assume the link and quote is from a recent meeting?
That article is from November 2014 when they didn’t cut production and sent oil into a market crash for the next 8 years or so until the Ukraine Russia war. Was driving back and forth from laffy and Houston that winter/spring and was getting very nervous seeing the collapse of gasoline prices along the signs on the interstate
But yes I agree opec historically cuts production to prop up prices; however, that was before the shale revolution/US productivity world records
1
Posted on 7/17/26 at 9:14 am to Skippy1013
quote:
no more bully in the Middle East
There has ALWAYS been a bully in that region, and there will ALWAYS be a bully in that region.
There will NEVER be peace in the Middle East.
Posted on 7/17/26 at 9:18 am to Shexter
quote:
There has ALWAYS been a bully in that region, and there will ALWAYS be a bully in that region.
There will NEVER be peace in the Middle East.
no one gave a frick about that region until about 1932 so fair to see why they dont like people fricking with them over their oil
This post was edited on 7/17/26 at 9:22 am
Posted on 7/17/26 at 9:22 am to hubertcumberdale
Yeah, US shale production was a headache for the Saudis and they very effectively shut it down for a while. I don’t know if it was worth it, because production is back in a big way.
Posted on 7/17/26 at 9:25 am to Penrod
quote:
Yeah, US shale production was a headache for the Saudis and they very effectively shut it down for a while. I don’t know if it was worth it, because production is back in a big way.
i think they just made the majors and mid majors bigger from all the A&D going on during that time period from the smaller independents and mom and pops going out of business
rig count in my region is much lower than it was during 2015 - 2019 fwiw, so perhaps we are seeing a little more discipline now a days (hopefully)
This post was edited on 7/17/26 at 9:26 am
Posted on 7/17/26 at 9:27 am to hubertcumberdale
And maybe that was their goal. The majors will play ball with them to fix prices, whereas the independents can’t.
Posted on 7/17/26 at 9:29 am to Penrod
quote:
And maybe that was their goal. The majors will play ball with them to fix prices, whereas the independents can’t.
that is a good point, although i dont see wall street colluding with OPEC but ya never know
Posted on 7/17/26 at 11:52 am to hubertcumberdale
quote:
hat is a good point, although i dont see wall street colluding with OPEC but ya never know
Wall Street would sacrifice their mother or first born at the alter of Profit.
Posted on 7/17/26 at 12:17 pm to sosaysmorvant
quote:
Wall Street would sacrifice their mother or first born at the alter of Profit.
Another very good point
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