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Author Topic: Saudis go around OPEC, motorists win, but be ready for Atlantic storms Back to Topics
PD

Moderator
Message Posted: Jun 13, 2011 2:30:55 PM

Oil prices have started off the week be gently falling. Late last week we received word that OPEC producer Saudi Arabia was going to increase their production, going outside of OPEC's "official" decision. Such a move is likely to spark anger at the Saudi's, but high price hawks Iran and Venezuela likely have little in their power to stop such an increase.

The Saudi's move highlights the instability of oil producing countries and further undermines the quotas set by OPEC. While oil prices initially rallied last week on OPEC's inability to increase production, prices are now coming back down after the Saudi's flexed their muscles and said they will increase production. While there are certainly politics involved in the Saudi's decision...

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REPLIES (newest first) Post a Reply
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indyjim
Champion Author Indianapolis

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Message Posted: Dec 27, 2012 9:29:46 AM

If the US increases oil production to be independent, OPEC will have a problem giving their oil away.
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99dakota
Champion Author Providence

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Message Posted: Dec 27, 2012 5:52:28 AM

old news
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pilotmass
Champion Author Boston

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Message Posted: Dec 20, 2012 10:17:16 AM

old old article....
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rickfro
All-Star Author San Diego

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Message Posted: Dec 18, 2012 12:05:26 AM

Good. keep pumping and keep the prices going down.
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WanderDan
All-Star Author Dayton

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Message Posted: Dec 17, 2012 9:59:02 PM

maybe one day there will be a website for wind and sunpredictions instead lol
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WanderDan
All-Star Author Dayton

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Message Posted: Dec 17, 2012 9:56:38 PM

please dont be fooled.. the pusher never helps the addict
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Donatelo
Champion Author Dayton

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Message Posted: Dec 16, 2012 11:08:29 AM

we are drillling more oil and natural gas than ever before. we need new innovation to get away from fossil fuels.
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Bearcat500
Champion Author Cincinnati

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Message Posted: Dec 16, 2012 11:08:20 AM

Hope this is good news at the pump.
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txrojo2005
Champion Author Austin

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Message Posted: Dec 16, 2012 10:41:01 AM

We need more domestic drilling in the US; not US Government mandates to not drill on any coast or on federal lands. The only drilling is private drilling. Without capitalism, our gas prices would be even higher.
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mfgendron
Champion Author New York

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Message Posted: Dec 16, 2012 9:53:54 AM

The arabs make up the prices when they deem fit.
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Vette1967
Champion Author Albany

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Message Posted: Dec 16, 2012 3:24:17 AM

No controlling what price will be at the pumps.
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mabrams184
Champion Author Lexington

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Message Posted: Dec 11, 2012 10:17:06 PM

We will see
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Donatelo
Champion Author Dayton

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Message Posted: Dec 11, 2012 10:49:36 AM

natural gas will be the fuel of our future. we have plenty of it.
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99dakota
Champion Author Providence

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Message Posted: Dec 10, 2012 6:05:19 AM

Lets get energy independent.
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skidsteer85xt
Champion Author Indiana

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Message Posted: Dec 7, 2012 9:32:59 AM

I THINK THEIR IS FAR MORE OIL IN THE USA THAN ANYONE IS EXPECTING
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Gas4Gore
Champion Author Detroit

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Message Posted: Dec 2, 2012 11:37:06 AM

USA should have their own OPEC, do they already???
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gasokie
Champion Author Oklahoma

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Message Posted: Dec 1, 2012 6:04:43 PM

Another good reason for the usa to be speeding toward domestic oil and energy independence. Won't have to worry about those things so much.
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dockersbin
Veteran Author North Carolina

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Message Posted: Nov 30, 2012 2:32:04 PM

I agree withy nightowl!
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Gas4Gore
Champion Author Detroit

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Message Posted: Nov 29, 2012 11:16:33 PM

Ho Ho Ho!
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jwalkerh
Champion Author Louisiana

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Message Posted: Nov 29, 2012 10:40:28 AM

Increase production means increased sales for them...
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CapriceWagon
Champion Author Washington

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Message Posted: Nov 29, 2012 9:49:26 AM

Wicked old news
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99dakota
Champion Author Providence

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Message Posted: Nov 28, 2012 5:17:24 AM

old news
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rickfro
All-Star Author San Diego

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Message Posted: Nov 25, 2012 4:12:32 PM

Good. Let's drop the price of gas.
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benjy
Champion Author Chicago

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Message Posted: Nov 25, 2012 10:14:03 AM

be aware....
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Gas4Gore
Champion Author Detroit

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Message Posted: Nov 23, 2012 10:22:32 PM

OPEC, inconsequential.
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Bearcat500
Champion Author Cincinnati

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Message Posted: Nov 23, 2012 8:37:43 AM

OK.
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JoeMegaGas
Rookie Author Michigan

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Message Posted: Jun 28, 2011 9:09:15 AM

Finally!
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KatybugMD
Rookie Author Baltimore

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Message Posted: Jun 20, 2011 9:53:02 AM

We should be happy to see a Mid-East country taking actions that resemble capitalist decision making and we should reward that behavior. Even a baby step like this is encouraging.
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Pete12
Champion Author Albany

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Message Posted: Jun 15, 2011 2:50:10 PM

OPEC never had any strength anyway. Every country pumps whatever they want to.
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Blue48
Champion Author Illinois

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Message Posted: Jun 14, 2011 11:10:28 PM

WHATEVER!
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bkplenge
Champion Author Tallahassee

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Message Posted: Jun 14, 2011 4:57:45 PM

"should storms begin forming at an early and more rapid pace than past years, the market may completely ignore Saudi's output boost, choosing instead to be concerned about Gulf Coast refining capacity"

This says it outright. The speculators will ignore the higher output, like they have the large oil glut & low demand, and continue to jack the prices on made up fears and excuses.
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doctorindyj
Champion Author Santa Fe

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Message Posted: Jun 14, 2011 12:05:47 PM

Nothing has changed, except apparently some good PR for Saudi Arabia. OPEC members consistently laugh at OPEC behind the organization's back and pump more oil than they are supposed to. The Saudis see what's coming and are trying to head it off at the pass and get some good PR while they are at it.
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Night Owl
Champion Author Toronto

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Message Posted: Jun 14, 2011 11:32:19 AM

Go Saudi Arabia! Somebody has to take on the greedy oil speculators.
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quasar502
Champion Author Lansing

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Message Posted: Jun 14, 2011 9:36:27 AM

Thank you Saudis.
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scu227
Champion Author New Haven

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Message Posted: Jun 14, 2011 9:22:27 AM

Go Saudis!!!
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debbiedl
All-Star Author Akron

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Message Posted: Jun 14, 2011 7:25:57 AM

Sounds good for us?!?
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FocusST2
Champion Author North Carolina

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Message Posted: Jun 14, 2011 6:27:48 AM

WTI sitting at $97.67, up 37 cents.
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LostToo
Champion Author Illinois

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Message Posted: Jun 14, 2011 3:28:03 AM

What possible difference could this mean to the USA? we get our oil from Canada.
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MDTDriver
Champion Author California

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Message Posted: Jun 14, 2011 3:16:05 AM

Old news on Tues. day morning.
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Retowered
Champion Author Colorado

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Message Posted: Jun 14, 2011 3:08:28 AM

It is about time for Crude to come down.
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runway12
Champion Author Tacoma

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Message Posted: Jun 14, 2011 2:59:23 AM

CPR54 and RENEGADE, I thought those tax breaks for the upper class supported by the R party were suppose to help create jobs? Yet all we have seen is high fuel prices and jobs being sent overseas. I have yet to see anything from either side that really shows that 2012 will bring change to anything and the current pool of candidates
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OnTheWater
Champion Author Orange County

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Message Posted: Jun 14, 2011 2:54:46 AM

Awesome at least someone is stepping up to the plate here and saying F you OPEC!!!! Were going to raise production rather you like it or not! Gas dropped another two cents today please keep on falling as gas is still way to high and needs to fall another 50 cents or more before this economy can ever improve.
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kd5kpd
Champion Author Texas

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Message Posted: Jun 14, 2011 2:54:41 AM

Very true, speculators cant wait for hurricane season every year. They cant wait to start jacking up prices at the first sign of bad weather in the gulf so they can legally steal billions more from the consumers.
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gass12
Champion Author Omaha

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Message Posted: Jun 14, 2011 2:52:44 AM

Oil droped $2.40 on the NYSE on Monday.
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jackson661
Champion Author Columbus

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Message Posted: Jun 14, 2011 2:52:26 AM

More production mean lower price.. keep it up ..
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blk911
Champion Author Colorado Springs

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Message Posted: Jun 14, 2011 2:50:39 AM

Keep Conserving America!!
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TelsaOR
Champion Author Oregon

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Message Posted: Jun 14, 2011 2:42:25 AM

Who are they kidding. lower demand for oil, who is going to buy?
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CPR54
Champion Author Austin

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Message Posted: Jun 14, 2011 1:29:07 AM

that is the darn truth RENEGADE Obama needs to go back to Africa They proved he was not born in the USA we dont pick our leader anyway i say popular vote should be the way but they know who they are putting in there anyway esp with these nice electronic votingmachines what a joke!!!!
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DirtDauber
Champion Author San Antonio

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Message Posted: Jun 14, 2011 1:27:36 AM

Oh yes.

We should really pay attention to what NOAA has to say.

Wait, they are certainly NOT very accurate in their predictions.
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RENEGADEGAS
Champion Author Missouri

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Message Posted: Jun 14, 2011 1:18:24 AM

COME ON 2012! Its obvious nothing of any merit is going to get done with the current regime in charge.
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