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Author Topic: Oil Fluctuates as U.S. Crude Stockpiles Climb Before OPEC Meets Back to Topics
comprof
Champion Author
Houston

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Message Posted: Dec 11, 2012 8:18:13 PM

Oil fluctuated after a report showed stockpiles rising in the U.S., the world’s biggest crude consumer, and as OPEC delegates gathered in Vienna to discuss the group’s production quota.
Futures were little changed after rising for the first time in six days yesterday. Crude inventories increased by 4.27 million barrels last week, the most since August, data from the American Petroleum Institute showed. An Energy Department report today may show supplies shrank by 2.5 million barrels, according to a Bloomberg News survey. Most members of the Organization of Petroleum Exporting Countries have signaled they’ll keep the output target unchanged at 30 million barrels a day.
Crude for January delivery was at $85.77 a barrel, down 2 cents, in electronic trading on the New York Mercantile Exchange
Visit Bloomberg for full article
REPLIES (newest first) Post a Reply
remay
Champion Author Houston

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Message Posted: Dec 13, 2012 8:42:35 AM

yawnnn, another "got to get SOMETHING published" article by Blooooomerberg.
doctorindyj
Champion Author Santa Fe

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Message Posted: Dec 12, 2012 10:39:00 AM

I wouldn't worry about it, according to some people OPEC has no control over oil prices and cutting production quotas and reducing the overall market supply will have no effect.
scu227
Champion Author New Haven

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Message Posted: Dec 12, 2012 8:26:06 AM

Demand continues to drop and supplies contuniue to rise should mean lower prices on the horizon, juat not soon enough
peabeax55
All-Star Author Atlanta

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Message Posted: Dec 12, 2012 7:58:54 AM

Gasoline prices are resisting the drop in crude. Producers are holding out for higher prices coming to a station near you.
FPLREP
Champion Author Virginia

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Message Posted: Dec 12, 2012 6:31:36 AM

If they cut production, we should increase ours by the same or more.
heydano67
Champion Author California

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Message Posted: Dec 12, 2012 4:40:04 AM

Saudi will break the norm
Luckylindy
Champion Author Milwaukee

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Message Posted: Dec 12, 2012 4:28:59 AM

They will cut production.
ExplorerWA
Champion Author Washington

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Message Posted: Dec 12, 2012 1:14:48 AM

They may have to lower the price.
Wally3023
Champion Author Pennsylvania

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Message Posted: Dec 11, 2012 11:05:19 PM

Ok
Hawg1408
All-Star Author Alberta

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Message Posted: Dec 11, 2012 10:58:53 PM

Oil should continue to go down. Hopefully we will get some positve news from the OPEC meeting to assist with lower prices.
Dphillips720
Champion Author Michigan

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Message Posted: Dec 11, 2012 10:14:53 PM

Opec joy
gbs1
Champion Author Minnesota

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Message Posted: Dec 11, 2012 10:03:45 PM

They should keep output the same
alterman156
Champion Author New York

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Message Posted: Dec 11, 2012 9:44:13 PM

Maybe if the price of oil keeps falling, gasoline will go down to $3.50 per gallon in my area.
sickhp
Champion Author San Antonio

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Message Posted: Dec 11, 2012 9:40:42 PM

Keep drilling baby drilling in all of America, will keep $$ in America and tell OPEC to go pound sand.
davenles
Champion Author Texas

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Message Posted: Dec 11, 2012 9:35:44 PM

But has no effect on gas prices.
Pramodsharma
Champion Author Richmond

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Message Posted: Dec 11, 2012 9:17:46 PM

OPEC is in limbo after many years of pleasure meets. US is King now!!!
humblepie
Champion Author Toledo

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Message Posted: Dec 11, 2012 9:08:57 PM

wti is still $40 over priced
elhefe2003
Sophomore Author New Orleans

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Message Posted: Dec 11, 2012 8:25:10 PM

Just wished they had an accurate figure. The way this written it is showing mixed signals. Price of crude needs to keep dropping.
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