oil trade war about to start OPEC to increase production oil price crash could be Mon 5th

[securespark]

Should rename gas to trump112, or should that be trump911?

 

[Lirefighter]

Why do so many people on here want oil prices to be high?
They keep parroting that the price of oil dropping is a bad thing.
I say the lower the better!

 

[Notch7]

Why do so many people on here want oil prices to be high?
They keep parroting that the price of oil dropping is a bad thing.
I say the lower the better!

Trumps slogan is Drill Baby Drill
Trumps wants low oil prices
Those 2 statements are not compatible

As you are a Trump supporter, what do you think about that?




America has high extraction costs, it can’t make money once oil goes down below $59 to $68 a barrel.

OPEC+ is increasing its production by 2.2 million barrels by Sept……that will push prices below USAs ability to extract.

 

[Lirefighter]

Trumps slogan is Drill Baby Drill
Trumps wants low oil prices
Those 2 statements are not compatible

As you are a Trump supporter, what do you think about that?




America has high extraction costs, it can’t make money once oil goes down below $59 to $68 a barrel.

OPEC+ is increasing its production by 2.2 million barrels by Sept……that will push prices below USAs ability to extract.

Can the US not subsidise it like every other major oil exporting country does?

 

[gas112]

Should rename gas to trump112, or should that be trump911?

Dont give up your day job to take up comedy

 

[gas112]

America has high extraction costs, it can’t make money once oil goes down below $59 to $68 a barrel.

OPEC+ is increasing its production by 2.2 million barrels by Sept……that will push prices below USAs ability to extract.

Great economics then being able to buy it cheaper than you can produce it joe public and industry wins with cheaper at the pump costs .
Let another country use up all its resources whilst yours are kept in the ground for future generations win win

 

[Notch7]

then being able to buy it cheaper than you can produce it

So you think it is better for America to buy goods cheap from China rather and produce it

So you disagree with Trumps policy of tariffs on China etc to "bring jobs back home"

 

[gas112]

So you think it is better for America to buy goods cheap from China rather and produce it

So you disagree with Trumps policy of tariffs on China etc to "bring jobs back home"

Nope because those goods and chinese jobs are getting massive government subsidies

 

[Londoner2]

5th has passed n no crash.

 

[securespark]

Dont give up your day job to take up comedy

At least you got the numerical part of the pun!

 

[fillyboy]

Russia and Saudi are seeing the weakness in the USA since Trump damaged the economy

America has lost market share due to USA growing its oil market and OPEC want to regain market share

Saudi has the worlds lowest production costs for oil, America one of the highest; so the result will be America shutting oil wells and cutting production

It will result in cheaper gasoline prices at the pumps, which Trump might like.........but what will happen will be an increase in price energy, ie gas and electricity


interesting times

Trump asked OPEC to lower the price of oil in January, naturally Saudi were willing to comply.

Trump Pressures OPEC to Lower Oil Prices, Aims to End Ukraine War | OilPrice.com

President Trump is urging Saudi Arabia and OPEC to increase oil output to pressure Russia into ending the war in Ukraine, while also threatening additional sanctions against Russia.

oilprice.com

 

[denso13]

That was months ago. It is now OPEC+ who are increasing output which includes Russia with support from Iran. Why would they get involved? To stuff orangina of course.

 

[fillyboy]

That was months ago. It is now OPEC+ who are increasing output which includes Russia with support from Iran. Why would they get involved? To stuff orangina of course.

Russia want to cut off their source of war funding? OK.

 

[fillyboy]

That was months ago. It is now OPEC+ who are increasing output which includes Russia with support from Iran. Why would they get involved? To stuff orangina of course.

MSN

OPEC+ sources have said Saudi Arabia is pushing OPEC+ to accelerate the unwinding of earlier output cuts to punish fellow members Iraq and Kazakhstan for poor compliance with their production quotas.

The hikes also follow calls from Trump on OPEC+ to raise output. Trump will visit Saudi Arabia later in May.In December, eight OPEC+ countries that have been implementing the group's most recent output cut of 2.2 million bpd agreed to gradually phase it out in monthly increases of about 138 000 bpd from April 2025.

 

[denso13]

Russia want to cut off their source of war funding? OK.

Precisely. They aren't doing it to harm themselves, that's the point.