Saudis launching an oil price war.

[MarathonMike]

Apparently they are pissed at the Russians and are going to ramp up production. Are we looking at $30 a barrel crude oil?

Subscribe to read | Financial Times

 

[william the wie]

Apparently they are pissed at the Russians and are going to ramp up production. Are we looking at $30 a barrel crude oil?

Subscribe to read | Financial Times

It could go as low $20/BBL

 

[Pogo]

Apparently they are pissed at the Russians and are going to ramp up production. Are we looking at $30 a barrel crude oil?

Subscribe to read | Financial Times

PAYWALL.
It's right there in your link that it's a paywall.

 

[MarathonMike]

My B, try this one.
Financial Times: Saudi Arabia launches oil price war after Russia deal collapse | KyivPost - Ukraine's Global Voice

 

[ReinyDays]

Saw that ... trying to shut down North American producers ... news to me that Russia joined OPEC ...

I find all this a better reason to curtail fossil fuel consumption ...

 

[RodISHI]

Cool, does this mean gas will be back down to a buck thiry-eight in a day or two?

 

[william the wie]

Cool, does this mean gas will be back down to a buck thiry-eight in a day or two?

Except in CA yes

 

[Pogo]

My B, try this one.
Financial Times: Saudi Arabia launches oil price war after Russia deal collapse | KyivPost - Ukraine's Global Voice

That one refers right back to the first one.

 

[RodISHI]

Cool, does this mean gas will be back down to a buck thiry-eight in a day or two?

Except in CA yes

With fuel down the economy should get a big boost.

 

[ReinyDays]

With fuel down the economy should get a big boost.

Dow Transportations worth a look? ...

 

[mudwhistle]

Cool, does this mean gas will be back down to a buck thiry-eight in a day or two?

Except in CA yes

If the price goes down CA government will just raise taxes on it.

 

[playtime]

Saw that ... trying to shut down North American producers ... news to me that Russia joined OPEC ...

I find all this a better reason to curtail fossil fuel consumption ...

render them useless.

 

[MarathonMike]

Cool, does this mean gas will be back down to a buck thiry-eight in a day or two?

Gas prices are remarkably slow to react to drops in crude oil and remarkably fast to rising crude oil prices.

 

[Picaro]

Saudis are desperate for investment capital for their sovereign fund; they figure they have a bout 10 year window to try and get those investments up to replace their oil business, which is going to decline rather steeply over the next decade. They now face a reverse of their heydays of the 1970's OPEC price increases, when the 'oil shortage' played an important role in bankrupting the Soviet Union and the Brezhnev Doctrine was no more. Now the Russian can use their oil as a weapon against them in the ME.

 

[MarathonMike]

WTF Crude oil futures are at $32 a barrel!!!

 

[Picaro]

Cool, does this mean gas will be back down to a buck thiry-eight in a day or two?

Gas prices are remarkably slow to react to drops in crude oil and remarkably fast to rising crude oil prices.

Refineries aren't springing up and increasing capacity. It's a closed club, and they like it that way.

 

[Picaro]

With fuel down the economy should get a big boost.

Dow Transportations worth a look? ...

Trucking has been reporting slowdowns since Sept. of last year, long before the virus thing. Wages haven't kept up with inflation in this 'boom' cycle, either; they never do.

 

[luchitociencia]

Amazing.

Saudi Arabia is the most powerful country of the world.

A royal member of that Saudi family sends to kill a man and cut his body in pieces in an embassy in a foreign country and nobody, no powerful government (s) in the world will do anything about it.

Saudi Arabia holds production or increases it and the world economy changes according to the will of the king of that country.

We live in sad times.