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Author Topic: OPEC considers oil output, Iran-Saudi rivalry Back to Topics
WxVette

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Omaha

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Message Posted: Dec 11, 2012 8:03:20 AM

VIENNA (AP) -- Tough decisions await OPEC oil ministers sitting down this week for a policy meeting. The 12-nation cartel has to deal not only with how much crude to produce for the next few months but must also fill a senior position coveted both by Saudi Arabia and archrival Iran.

With world supplies ample, there is some rationale for curbing output when the ministers meet Wednesday in Vienna.

Oil inventories in the major industrialized countries are high, with an energy boom in non-OPEC member resulting in stocks of oil at their most plentiful there since 2008. Meanwhile, the Organization of the Petroleum Exporting Countries is pushing out over 31 million barrels a day. That's substantially more than its official daily ceiling of 30 million barrels and the highest in four years,
REPLIES (newest first) Post a Reply
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DanMtz
Champion Author Oakland

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Message Posted: Dec 12, 2012 6:20:08 PM

OPEC is irrelevant.
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danny999
Champion Author Florida

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Message Posted: Dec 12, 2012 7:31:38 AM

Iran should be kicked out of OPEC.
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52MPG
Champion Author Dayton

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Message Posted: Dec 11, 2012 11:25:33 AM

The Iran oil embargo should be enforced until they stop going nuclear.
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investmentdr
Champion Author Cleveland

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Message Posted: Dec 11, 2012 10:58:22 AM

opec smopec
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darkform
Veteran Author Illinois

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Message Posted: Dec 11, 2012 10:58:05 AM

ok
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hornet17
Champion Author Vancouver

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Message Posted: Dec 11, 2012 10:42:12 AM

they control the product for the most extent, they can do what they choose. Unless we find an alternative.
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dabayer
Champion Author New Hampshire

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Message Posted: Dec 11, 2012 10:19:13 AM

OPEC, an international cartel. All legal! All legal?

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bruin19MD
Champion Author Maryland

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Message Posted: Dec 11, 2012 10:06:37 AM

Interesting article
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OTISFL
Champion Author Pensacola

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Message Posted: Dec 11, 2012 10:03:44 AM

Up go the prices!
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csblesson
Champion Author Texas

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Message Posted: Dec 11, 2012 9:48:33 AM

We have pay because of their ways of doing things
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merlinCO
Champion Author Colorado

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Message Posted: Dec 11, 2012 9:19:16 AM

oil is just going to go up.
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ss70
Champion Author Detroit

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Message Posted: Dec 11, 2012 9:15:48 AM

time to break the cartel
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bcline909
Veteran Author Virginia

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Message Posted: Dec 11, 2012 9:14:44 AM

tough decisions
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scu227
Champion Author New Haven

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Message Posted: Dec 11, 2012 8:55:23 AM

With supplies up and demand down, cutting production should not be a big deal, but the SPECULATORS will think differently.
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doggod
Champion Author Anchorage

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Message Posted: Dec 11, 2012 8:49:49 AM

B-b-b-but I thought the Iranians weren't selling any oil. On account of the embargo, don't you know. Oh, you mean it's possible to get around embargoes when you're selling a fungible product? Well, I'll be darned, who'd-a-thunk!

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sabre75
Champion Author Florida

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Message Posted: Dec 11, 2012 8:44:36 AM

Agree with Eagle 3236
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Eagle3236
Champion Author Missouri

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Message Posted: Dec 11, 2012 8:36:29 AM

Hope we get the Keystone pipeline built, then this news will not affect us as much.
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AVKZ
Champion Author Kalamazoo

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Message Posted: Dec 11, 2012 8:24:19 AM

Tough times for the unbelievably rich.
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amoshins
Champion Author Trenton

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Message Posted: Dec 11, 2012 8:21:08 AM

makes sense - hope supply is not curbed
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wrunner
Champion Author Virginia

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Message Posted: Dec 11, 2012 8:12:08 AM

The fear factor.
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humblepie
Champion Author Toledo

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Message Posted: Dec 11, 2012 8:09:41 AM

arabs have hated each other for a thousand years
this is just another forum
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GingoutMD
Champion Author Maryland

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Message Posted: Dec 11, 2012 8:05:12 AM

Whatever they decide will allow the speculators an opportunity to increase the price of oil.
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graceman
Champion Author Baltimore

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Message Posted: Dec 11, 2012 8:04:46 AM

If they do we need to apply sanctions on them.
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