Post by
masfortuna on Oct 05, 2022 9:16am
Oh Boy!
In reality, opec+ has not delivered their stated numbers so it's basically a bag f donuts BUT the message is "I dare you" to whomever is manipulating the price of oil. Yikes. Didn't expect this big number.
Comment by
dllscwbysfn on Oct 05, 2022 9:39am
Yup 100% right. " I dare you" . They were warned last month with the 100k.
Comment by
Moemoney42 on Oct 05, 2022 9:48am
I still think its a nothing burger.. less than a $1 bump today on the news.. but of course the media is running around with their hair on fire like smallcrapper.. LOL.. so if the price doesn't get over $100/brl WTI this big scare of the end of the world isn't going to happen.. the economies can handle $100/brl oil in reality..
Comment by
northmark on Oct 05, 2022 9:53am
Yep, just opec reminding the world who's driving the bus.
Comment by
Gringotts on Oct 05, 2022 10:15am
2 million boe a day cut. A very significant number!! In response, The price for oil remain flat to down half percent. What a messed up market. Geez....
Comment by
Cobalt on Oct 05, 2022 10:44am
What do you think Oil moving up 9% in 2 days was all about? Geez
Comment by
Canukiwi on Oct 05, 2022 11:05am
Gringott, it is the "real" market that is now responding to the EIA release showing a drop of 10 mb including SPR.
Comment by
Cobalt on Oct 05, 2022 10:52am
Sounds like the US told OPEC if you dont cut we will buy 2 million a day to refill SPR they said nope here is a cut , How is that for a message.
Comment by
dllscwbysfn on Oct 05, 2022 11:15am
Hey Cobalt, Thats hilarious. The only thing this does for the whitehouse, the EU and msm is gives them all an excuse as to why things are so bad. Now they can blame OPEC
Comment by
Moemoney42 on Oct 05, 2022 11:16am
Andrew Lippow just stated on BNN that the 2 million adjustment by OPEC+ is to the quotas.. of which they were 3.5 million barrels below of anyway.. yup a nothing burger in reality.. ;-)