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Posted on 11/21/22 at 12:28 pm to LSUAngelHere1
quote:
Prices fell this mrng bc the Wall Street Journal falsely reported that OPEC is considering an output increase of 500,000 barrels. Along with fears of covid restrictions in China, this caused the price of Brent to drop 6% & trade below $83/barrel.
Wild morning...WTI still sub $80 but nearly back to end of last week close...China covid lockdown fears still keeping a little downward pressure. May good have mercy on their souls.
Posted on 11/21/22 at 12:30 pm to cwill
Oil stocks are at lowest point in about 30 years, unless Opec increases production you can expect prices to jump back with vengeance.
Posted on 11/21/22 at 12:30 pm to cwill
Still higher by a lot than before the idiot took the white house. So not plummeting.
Plus China reinstated lock downs plus for some reason OPEC+ SAYS it will increase production
Plus China reinstated lock downs plus for some reason OPEC+ SAYS it will increase production
This post was edited on 11/21/22 at 12:33 pm
Posted on 11/21/22 at 12:32 pm to TeaParty
quote:
Still higher by a lot than before the idiot took the white house. So not plummeting
You can always find a workaround!
Posted on 11/21/22 at 12:36 pm to cwill
quote:
Wild morning...WTI still sub $80 but nearly back to end of last week close...China covid lockdown fears still keeping a little downward pressure. May good have mercy on their souls.
When Saudi denied this i was able to grab some OXY calls and they’re already up over 250%
Posted on 11/21/22 at 12:37 pm to auggie
quote:
You mean down about 10 cents? That's a plummet?
Oil is down about 15% over the month and gasoline (which trails) down 5%. Hell this AM WTI was approaching a 20% decline.
Posted on 11/21/22 at 12:44 pm to cwill
Reg. unleaded was $ 3.09.9 this morning at The Mapco. It was $ 1.61.9 at the same store on Biden's inauguration day.
Posted on 11/21/22 at 12:48 pm to cwill
We have two things fighting gas prices;
1). Inflation, added regulation and Biden war on oil and gas pushing price up.
vs.
2). People traveling less due to winter, plus a wrecked economy causing less energy use all driving price down.
Communist macro economics has consequences.
1). Inflation, added regulation and Biden war on oil and gas pushing price up.
vs.
2). People traveling less due to winter, plus a wrecked economy causing less energy use all driving price down.
Communist macro economics has consequences.
Posted on 11/21/22 at 12:48 pm to cwill
Thanks for posting this. It’s clear the retarded OP doesn’t know how to read a graph.
Does he OP?
Posted on 11/21/22 at 12:50 pm to auggie
quote:
Reg. unleaded was $ 3.09.9 this morning at The Mapco. It was $ 1.61.9 at the same store on Biden's inauguration day.
You're moving the goal post (well done). The argument was that prices were being forced lower pre-midterms and that they would go up post election.
But regarding your post, that's what happens when you slam the breaks on the economy, oil prices go negative and a bunch of production companies and service companies go bankrupt, then hit the gas (literally and figuratively) on the economy and demand goes through the roof. I guess Trump shoulda kept the economy open during his presidency?
Posted on 11/21/22 at 12:50 pm to GoldenGuy
quote:
Thanks for posting this. It’s clear the retarded OP doesn’t know how to read a graph.
I think you may not understand the OP.
Posted on 11/21/22 at 12:52 pm to Marquesa
quote:
OMG, perhaps FJB will fill up the strategic reserve after these MASSIVE price drops.
lol, don't count on that. Globalist Democrats don't want America prepared for bad happenings. It is what they do.
Posted on 11/21/22 at 12:58 pm to cwill
quote:
f. I guess Trump shoulda kept the economy open during his presidency?
Fuel prices were low before chyna flu. I was in the trucking business.
I sold out November,2019, at that time, I was buying most of my truck diesel in the South below $3.00 per gallon.
This post was edited on 11/21/22 at 1:17 pm
Posted on 11/21/22 at 1:03 pm to cwill
quote:
plummeting
Back below $2/gal?
Posted on 11/21/22 at 1:07 pm to cwill
quote:
What happened?
Another Strategic Oil Reserve dump probably.
Posted on 11/21/22 at 1:09 pm to Big Scrub TX
quote:
--OPEC talking about increasing production
Saudi Arabia denies report it is discussing oil production increase
Saudi officials on Monday denied reports the kingdom is backtracking on planned cuts to oil production after The Wall Street Journal reported Riyadh is mulling an increase.
“It is well known, and no secret, that OPEC+ does not discuss any decisions ahead of its meetings,” Energy Minister Prince Abdulaziz bin Salman said Monday through state news agency SPA. “The current cut of 2 million barrels per day by OPEC+ continues until the end of 2023 and if there is a need to take further measures by reducing production to balance supply and demand, we always remain ready to intervene.” LINK
Posted on 11/21/22 at 1:16 pm to cwill
5 months in a row of declined consumption with Biden still putting supply in from reserves.
Posted on 11/21/22 at 1:20 pm to cwill
quote:Your dad found out you're not really his kid.
What happened?
Posted on 11/21/22 at 1:22 pm to cwill
quote:Recognition that the economy isn’t likely to generate much future demand.
What happened?
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