Crude Oil prices falling off a cliff

[Here_4_a_Day]

Sounds like a great time to have a brimming SPR, right, jo? 🤡 🤣

Oil Market Set to Tighten as OPEC+ Sticks With Production Cuts | OilPrice.com

The OPEC+ group decided to keep its production cuts unchanged until the end of the first half of 2024, meaning oil markets are set to tighten.

oilprice.com

 

[lucas80]

I hope Ukraine disables every single refinery in Russia, more pain for those scum bags is a good thing. The rest of OPEC will fill in the gaps and happily take a bigger share of the profits.

You can generally count on OPEC members to screw over their fellow members, although only SA can quickly ramp up significant production. I will mention that Venezuela can provide more crude, and Biden has quietly walked back some sanctions on them. Time to ease them more, although their production abilities are old and creaky.

 

[TC Nole OX]

 

[joelbc1]

10 years ago, my bride and I were in Scotland and within eye sight of oil pumps working the North Sea…fuel was running $6.50 to $6.80 a gallon after conversions to gallons and dollars from liters and Euros…