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Posted on 7/6/26 at 7:47 pm to stout
Call me when this happens. I’ll bring the beer and other sustenance.
Posted on 7/6/26 at 7:57 pm to Helo
quote:
Sounds like it is almost time to start filling the SPR.
Posted on 7/6/26 at 8:15 pm to stout
Kill the UN too for the trifecta!
Posted on 7/6/26 at 8:20 pm to Timeoday
quote:
OPEC is in a struggle for its survival. It could mean $40 oil - CNN.
My how quickly we pivoted from 200 dollar oil fear mongering
Posted on 7/6/26 at 8:51 pm to Timeoday
quote:someone able to briefly describe whats going on here?
keep the group together and send oil prices into the ground
quote:someone able to briefly describe whats going on here?
or drive profit higher and risk dismantling the nearly 70-year-old cartel.
Posted on 7/6/26 at 9:05 pm to Barneyrb
quote:
What's going to happen is there will be a price war between the Arabs and the rest of OPEC. The Arabs will try to maintain profits and then realize nobody else will and they will find the bottom at that time.
UAE is no longer part of OPEC. OPEC limited it to around1.1.5 million BPD but I can due 4 million standing on its head. That's where most of the drilling has been the last decade. A client leased a warehouse there for that reason.
Posted on 7/6/26 at 9:21 pm to Timeoday
All TRUMPS Fault.....LMAO
Posted on 7/6/26 at 9:23 pm to deltaland
quote:
My how quickly we pivoted from 200 dollar oil fear mongering
Weren’t/aren't you one of the frequent crybabies around here
Posted on 7/6/26 at 9:25 pm to stout
And I will be your tool helper!
Posted on 7/6/26 at 9:30 pm to HagaDaga
Always remember SA is in the catbird seat when it comes to ME oil.
Now, several ME nations need the immediate cash flow from increased production, which ultimately drives the cost down. A couple have left OPEC already, with a couple more seeing it as a strategy also . Hence, the return of a low barrel price.
SA is doing okay and does not need the increased production. So either the group stays together by lowering prices considerably or it dismantles because a few just want to increase profits by less production. Of course, SA could let them all feel the bottom by opening its spigots.
The ME is awash in oil right now and to save these reservoirs of oil, it must be produced. Now you understand who really had the leverage.
It was not Iran!!
Now, several ME nations need the immediate cash flow from increased production, which ultimately drives the cost down. A couple have left OPEC already, with a couple more seeing it as a strategy also . Hence, the return of a low barrel price.
SA is doing okay and does not need the increased production. So either the group stays together by lowering prices considerably or it dismantles because a few just want to increase profits by less production. Of course, SA could let them all feel the bottom by opening its spigots.
The ME is awash in oil right now and to save these reservoirs of oil, it must be produced. Now you understand who really had the leverage.
It was not Iran!!
This post was edited on 7/6/26 at 9:36 pm
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