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

PD Moderator	Message Posted: Jun 13, 2011 2:30:55 PM Ignore PD Report Abuse 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... Visit GasBuddy Blog for full article

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

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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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indyjim Champion Author Indianapolis Posts:10,088 Points:2,318,455 Joined:Jul 2006	Message Posted: Dec 27, 2012 9:29:46 AM Ignore indyjim Report Abuse If the US increases oil production to be independent, OPEC will have a problem giving their oil away.
99dakota Champion Author Providence Posts:8,107 Points:2,172,025 Joined:Oct 2006	Message Posted: Dec 27, 2012 5:52:28 AM Ignore 99dakota Report Abuse old news
pilotmass Champion Author Boston Posts:1,819 Points:501,635 Joined:Jul 2011	Message Posted: Dec 20, 2012 10:17:16 AM Ignore pilotmass Report Abuse old old article....
rickfro All-Star Author San Diego Posts:685 Points:328,595 Joined:Nov 2008	Message Posted: Dec 18, 2012 12:05:26 AM Ignore rickfro Report Abuse Good. keep pumping and keep the prices going down.
WanderDan All-Star Author Dayton Posts:585 Points:143,460 Joined:Nov 2012	Message Posted: Dec 17, 2012 9:59:02 PM Ignore WanderDan Report Abuse maybe one day there will be a website for wind and sunpredictions instead lol
WanderDan All-Star Author Dayton Posts:585 Points:143,460 Joined:Nov 2012	Message Posted: Dec 17, 2012 9:56:38 PM Ignore WanderDan Report Abuse please dont be fooled.. the pusher never helps the addict
Donatelo Champion Author Dayton Posts:1,121 Points:292,685 Joined:Apr 2011	Message Posted: Dec 16, 2012 11:08:29 AM Ignore Donatelo Report Abuse we are drillling more oil and natural gas than ever before. we need new innovation to get away from fossil fuels.
Bearcat500 Champion Author Cincinnati Posts:9,721 Points:1,630,300 Joined:Nov 2005	Message Posted: Dec 16, 2012 11:08:20 AM Ignore Bearcat500 Report Abuse Hope this is good news at the pump.
txrojo2005 All-Star Author Austin Posts:765 Points:478,810 Joined:May 2011	Message Posted: Dec 16, 2012 10:41:01 AM Ignore txrojo2005 Report Abuse 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.
mfgendron All-Star Author New York Posts:679 Points:307,910 Joined:Sep 2008	Message Posted: Dec 16, 2012 9:53:54 AM Ignore mfgendron Report Abuse The arabs make up the prices when they deem fit.
Vette1967 Champion Author Albany Posts:5,962 Points:1,275,025 Joined:Jun 2009	Message Posted: Dec 16, 2012 3:24:17 AM Ignore Vette1967 Report Abuse No controlling what price will be at the pumps.
mabrams184 Champion Author Lexington Posts:2,100 Points:533,060 Joined:Aug 2011	Message Posted: Dec 11, 2012 10:17:06 PM Ignore mabrams184 Report Abuse We will see
Donatelo Champion Author Dayton Posts:1,121 Points:292,685 Joined:Apr 2011	Message Posted: Dec 11, 2012 10:49:36 AM Ignore Donatelo Report Abuse natural gas will be the fuel of our future. we have plenty of it.
99dakota Champion Author Providence Posts:8,107 Points:2,172,025 Joined:Oct 2006	Message Posted: Dec 10, 2012 6:05:19 AM Ignore 99dakota Report Abuse Lets get energy independent.
skidsteer85xt Champion Author Indiana Posts:3,640 Points:186,050 Joined:Oct 2012	Message Posted: Dec 7, 2012 9:32:59 AM Ignore skidsteer85xt Report Abuse I THINK THEIR IS FAR MORE OIL IN THE USA THAN ANYONE IS EXPECTING
Gas4Gore Champion Author Detroit Posts:2,411 Points:421,925 Joined:Jan 2010	Message Posted: Dec 2, 2012 11:37:06 AM Ignore Gas4Gore Report Abuse USA should have their own OPEC, do they already???
gasokie Champion Author Oklahoma Posts:3,444 Points:1,324,520 Joined:May 2007	Message Posted: Dec 1, 2012 6:04:43 PM Ignore gasokie Report Abuse 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.
dockersbin Veteran Author Virginia Beach Posts:407 Points:259,635 Joined:May 2006	Message Posted: Nov 30, 2012 2:32:04 PM Ignore dockersbin Report Abuse I agree withy nightowl!
Gas4Gore Champion Author Detroit Posts:2,411 Points:421,925 Joined:Jan 2010	Message Posted: Nov 29, 2012 11:16:33 PM Ignore Gas4Gore Report Abuse Ho Ho Ho!
jwalkerh Champion Author Louisiana Posts:6,127 Points:1,368,720 Joined:Oct 2008	Message Posted: Nov 29, 2012 10:40:28 AM Ignore jwalkerh Report Abuse Increase production means increased sales for them...
CapriceWagon All-Star Author Washington Posts:934 Points:478,095 Joined:Feb 2008	Message Posted: Nov 29, 2012 9:49:26 AM Ignore CapriceWagon Report Abuse Wicked old news
99dakota Champion Author Providence Posts:8,107 Points:2,172,025 Joined:Oct 2006	Message Posted: Nov 28, 2012 5:17:24 AM Ignore 99dakota Report Abuse old news
rickfro All-Star Author San Diego Posts:685 Points:328,595 Joined:Nov 2008	Message Posted: Nov 25, 2012 4:12:32 PM Ignore rickfro Report Abuse Good. Let's drop the price of gas.
benjy Champion Author Chicago Posts:8,592 Points:1,787,620 Joined:Nov 2003	Message Posted: Nov 25, 2012 10:14:03 AM Ignore benjy Report Abuse be aware....
Gas4Gore Champion Author Detroit Posts:2,411 Points:421,925 Joined:Jan 2010	Message Posted: Nov 23, 2012 10:22:32 PM Ignore Gas4Gore Report Abuse OPEC, inconsequential.
Bearcat500 Champion Author Cincinnati Posts:9,721 Points:1,630,300 Joined:Nov 2005	Message Posted: Nov 23, 2012 8:37:43 AM Ignore Bearcat500 Report Abuse OK.
JoeMegaGas Rookie Author Michigan Posts:71 Points:19,420 Joined:Jun 2011	Message Posted: Jun 28, 2011 9:09:15 AM Ignore JoeMegaGas Report Abuse Finally!
KatybugMD Rookie Author Baltimore Posts:2 Points:1,815 Joined:Jun 2011	Message Posted: Jun 20, 2011 9:53:02 AM Ignore KatybugMD Report Abuse 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.
Pete12 Champion Author Albany Posts:4,874 Points:1,644,175 Joined:Nov 2005	Message Posted: Jun 15, 2011 2:50:10 PM Ignore Pete12 Report Abuse OPEC never had any strength anyway. Every country pumps whatever they want to.
Blue48 Champion Author Illinois Posts:7,305 Points:1,637,945 Joined:Feb 2007	Message Posted: Jun 14, 2011 11:10:28 PM Ignore Blue48 Report Abuse WHATEVER!
bkplenge Champion Author Tallahassee Posts:1,618 Points:121,725 Joined:Sep 2005	Message Posted: Jun 14, 2011 4:57:45 PM Ignore bkplenge Report Abuse "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.
doctorindyj Champion Author Santa Fe Posts:3,448 Points:838,835 Joined:Nov 2009	Message Posted: Jun 14, 2011 12:05:47 PM Ignore doctorindyj Report Abuse 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.
Night Owl Champion Author Toronto Posts:7,550 Points:1,786,600 Joined:Jul 2004	Message Posted: Jun 14, 2011 11:32:19 AM Ignore Night Owl Report Abuse Go Saudi Arabia! Somebody has to take on the greedy oil speculators.
quasar502 Champion Author Lansing Posts:3,578 Points:800,375 Joined:Jan 2011	Message Posted: Jun 14, 2011 9:36:27 AM Ignore quasar502 Report Abuse Thank you Saudis.
scu227 Champion Author New Haven Posts:4,147 Points:770,905 Joined:Feb 2011	Message Posted: Jun 14, 2011 9:22:27 AM Ignore scu227 Report Abuse Go Saudis!!!
debbiedl All-Star Author Akron Posts:793 Points:991,035 Joined:Jun 2008	Message Posted: Jun 14, 2011 7:25:57 AM Ignore debbiedl Report Abuse Sounds good for us?!?
FocusST2 Champion Author North Carolina Posts:8,138 Points:1,377,950 Joined:Jul 2009	Message Posted: Jun 14, 2011 6:27:48 AM Ignore FocusST2 Report Abuse WTI sitting at $97.67, up 37 cents.
LostToo Champion Author Illinois Posts:4,392 Points:975,315 Joined:May 2009	Message Posted: Jun 14, 2011 3:28:03 AM Ignore LostToo Report Abuse What possible difference could this mean to the USA? we get our oil from Canada.
MDTDriver Champion Author California Posts:9,724 Points:2,154,645 Joined:Jul 2006	Message Posted: Jun 14, 2011 3:16:05 AM Ignore MDTDriver Report Abuse Old news on Tues. day morning.
Retowered Champion Author Colorado Posts:8,572 Points:2,684,440 Joined:May 2004	Message Posted: Jun 14, 2011 3:08:28 AM Ignore Retowered Report Abuse It is about time for Crude to come down.
runway12 Champion Author Tacoma Posts:3,059 Points:602,275 Joined:Aug 2008	Message Posted: Jun 14, 2011 2:59:23 AM Ignore runway12 Report Abuse 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
OnTheWater Champion Author Orange County Posts:2,123 Points:623,130 Joined:Nov 2009	Message Posted: Jun 14, 2011 2:54:46 AM Ignore OnTheWater Report Abuse 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.
kd5kpd Champion Author Texas Posts:3,731 Points:1,415,750 Joined:Apr 2006	Message Posted: Jun 14, 2011 2:54:41 AM Ignore kd5kpd Report Abuse 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.
gass12 Champion Author Omaha Posts:8,384 Points:2,302,740 Joined:Oct 2005	Message Posted: Jun 14, 2011 2:52:44 AM Ignore gass12 Report Abuse Oil droped $2.40 on the NYSE on Monday.
jackson661 Champion Author Columbus Posts:3,766 Points:1,476,000 Joined:May 2006	Message Posted: Jun 14, 2011 2:52:26 AM Ignore jackson661 Report Abuse More production mean lower price.. keep it up ..
blk911 Champion Author Colorado Springs Posts:2,923 Points:771,115 Joined:Nov 2004	Message Posted: Jun 14, 2011 2:50:39 AM Ignore blk911 Report Abuse Keep Conserving America!!
TelsaOR Champion Author Oregon Posts:3,561 Points:732,890 Joined:Jan 2011	Message Posted: Jun 14, 2011 2:42:25 AM Ignore TelsaOR Report Abuse Who are they kidding. lower demand for oil, who is going to buy?
CPR54 Champion Author Austin Posts:8,218 Points:1,866,055 Joined:Jul 2006	Message Posted: Jun 14, 2011 1:29:07 AM Ignore CPR54 Report Abuse 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!!!!
DirtDauber Champion Author San Antonio Posts:6,776 Points:1,626,485 Joined:Nov 2005	Message Posted: Jun 14, 2011 1:27:36 AM Ignore DirtDauber Report Abuse Oh yes. We should really pay attention to what NOAA has to say. Wait, they are certainly NOT very accurate in their predictions.
RENEGADEGAS Champion Author Missouri Posts:14,906 Points:1,590,250 Joined:Jul 2008	Message Posted: Jun 14, 2011 1:18:24 AM Ignore RENEGADEGAS Report Abuse COME ON 2012! Its obvious nothing of any merit is going to get done with the current regime in charge.