GasBuddy Blog

Message Forum - Read Message

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Oil Fluctuates as U.S. Crude Stockpiles Climb Before OPEC Meets	Post a Reply Back to Topics

comprof Champion Author Houston Posts:7,009 Points:1,384,450 Joined:Jul 2009	Message Posted: Dec 11, 2012 8:18:13 PM Ignore comprof Report Abuse 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

comprof

Champion Author
Houston

Posts:7,009
Points:1,384,450
Joined:Jul 2009

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

Ignore comprof Report Abuse

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)Ignore Short Messages

remay Champion Author Houston Posts:7,078 Points:2,143,215 Joined:May 2006	Message Posted: Dec 13, 2012 8:42:35 AM Ignore remay Report Abuse yawnnn, another "got to get SOMETHING published" article by Blooooomerberg.
doctorindyj Champion Author Santa Fe Posts:3,538 Points:864,310 Joined:Nov 2009	Message Posted: Dec 12, 2012 10:39:00 AM Ignore doctorindyj Report Abuse 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 Posts:4,303 Points:798,605 Joined:Feb 2011	Message Posted: Dec 12, 2012 8:26:06 AM Ignore scu227 Report Abuse 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 Posts:713 Points:186,165 Joined:Mar 2012	Message Posted: Dec 12, 2012 7:58:54 AM Ignore peabeax55 Report Abuse 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 Posts:8,395 Points:2,474,835 Joined:Oct 2005	Message Posted: Dec 12, 2012 6:31:36 AM Ignore FPLREP Report Abuse If they cut production, we should increase ours by the same or more.
heydano67 Champion Author California Posts:1,806 Points:385,235 Joined:Feb 2012	Message Posted: Dec 12, 2012 4:40:04 AM Ignore heydano67 Report Abuse Saudi will break the norm
Luckylindy Champion Author Milwaukee Posts:4,655 Points:1,154,770 Joined:May 2008	Message Posted: Dec 12, 2012 4:28:59 AM Ignore Luckylindy Report Abuse They will cut production.
ExplorerWA Champion Author Washington Posts:4,235 Points:823,975 Joined:Feb 2011	Message Posted: Dec 12, 2012 1:14:48 AM Ignore ExplorerWA Report Abuse They may have to lower the price.
Wally3023 Champion Author Pennsylvania Posts:2,116 Points:557,075 Joined:Sep 2011	Message Posted: Dec 11, 2012 11:05:19 PM Ignore Wally3023 Report Abuse Ok
Hawg1408 Veteran Author Alberta Posts:462 Points:664,615 Joined:May 2010	Message Posted: Dec 11, 2012 10:58:53 PM Ignore Hawg1408 Report Abuse 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 Posts:1,417 Points:549,850 Joined:Mar 2011	Message Posted: Dec 11, 2012 10:14:53 PM Ignore Dphillips720 Report Abuse Opec joy
gbs1 Champion Author Minnesota Posts:2,136 Points:769,325 Joined:Mar 2011	Message Posted: Dec 11, 2012 10:03:45 PM Ignore gbs1 Report Abuse They should keep output the same
alterman156 Champion Author New York Posts:7,625 Points:1,584,250 Joined:Dec 2008	Message Posted: Dec 11, 2012 9:44:13 PM Ignore alterman156 Report Abuse 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 Posts:1,487 Points:543,440 Joined:Sep 2011	Message Posted: Dec 11, 2012 9:40:42 PM Ignore sickhp Report Abuse Keep drilling baby drilling in all of America, will keep $$ in America and tell OPEC to go pound sand.
davenles Champion Author Texas Posts:3,336 Points:745,610 Joined:May 2011	Message Posted: Dec 11, 2012 9:35:44 PM Ignore davenles Report Abuse But has no effect on gas prices.
Pramodsharma Champion Author Richmond Posts:2,099 Points:412,165 Joined:Feb 2012	Message Posted: Dec 11, 2012 9:17:46 PM Ignore Pramodsharma Report Abuse OPEC is in limbo after many years of pleasure meets. US is King now!!!
humblepie Champion Author Toledo Posts:35,301 Points:2,398,095 Joined:Mar 2006	Message Posted: Dec 11, 2012 9:08:57 PM Ignore humblepie Report Abuse wti is still $40 over priced
elhefe2003 Sophomore Author New Orleans Posts:136 Points:27,580 Joined:Oct 2012	Message Posted: Dec 11, 2012 8:25:10 PM Ignore elhefe2003 Report Abuse Just wished they had an accurate figure. The way this written it is showing mixed signals. Price of crude needs to keep dropping.