RE:RE:RE:RE:What now? Biden has been good for middle east producers. They may be happy to assist in his re-election by accepting lower priced oil for a few months. They can easily make it up in the 3+ years after.
Sorry... not my intent to pee in the pool, rather simply offerring another view. My goal is to make money and appreciate hearing all sides of the argument.
Other than the obvious OPEC are crooks and usual argument that Saudis need $80+ oil to balance their budget, what are the reasons for OPEC to want higher priced oil for the remainder of 2024? My sense is they would prefer Trump not be re-elected.
baranja wrote:
Me think,. Arabs and all other oil producing countries will now allow that. They will most likely reject selling oil for US dollar if that happens and we will have shortages big time.
I am sure they are sick and tired, when everything exploding in prices including gasoline, they are supposed to sell their precious oil fro next to nothing. $80 is becoming nothing nowadays
I am surprised nobody is talking about the huge elephant in the room. Based on oil prices, gasoline should be way less then $1 at the gas stations. I remember, in Bush times, oil went to $140 while gasoline prices were bellow $1 (and that was expensive). Now, WTI is less then $80, while gasoline is $1.70 +.
I wonder who is milking oil produeers including Alberta. Who skims the milk