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Xolodno

(6,383 posts)

36. Rising interest rates from all central banks...

Reply to fightforfreedom (Original post)

Wed Oct 5, 2022, 02:07 PM

Oct 2022

...across the globe are going to cut the demand for oil across the world. So cutting production makes sense to them rather than tank the oil price.

But how long production is cut will be debatable. OPEC nations often quietly start producing more after awhile so they can take increased share of the market. Cartels are notoriously hard to keep production/price controls.

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OPEC just fucked us. [View all] fightforfreedom Oct 2022 OP

No doubt this will have an effect and they know it. underpants Oct 2022 #1

As always, it's all about oil. Hugin Oct 2022 #6

Imagine if we had actual real energy independence, BadOmens Oct 2022 #29

Do you mean independence? Chuuku Davis Oct 2022 #30

But this is an excerpt from a Bloomberg article on the cut: marmar Oct 2022 #2

Makes no difference durablend Oct 2022 #4

Wall Street has gotten the news, but the crude oil price is up less than one percent now. marmar Oct 2022 #7

Precisely. Hugin Oct 2022 #9

I'm pretty sure the USA can obtain oil elsewhere ...... Lovie777 Oct 2022 #3

Obtaining oil is not the problem. fightforfreedom Oct 2022 #8

Prices are strangely sticky downwards when prices per barrel drop mahina Oct 2022 #32

Problem is that our refineries can't process the oil from elsewhere SledDriver Oct 2022 #25

Well, Canada has oil we are willing to send to the US Disaffected Oct 2022 #31

Predatory Capitalism Emile Oct 2022 #5

The OPEC cartel isn't really aligned with the model of capitalism Amishman Oct 2022 #14

Sure, okay. . If that was true the price would not go up! Emile Oct 2022 #19

Wouldn't it be great if we all lived in a way that minimized our oil dependence? Scrivener7 Oct 2022 #10

Wouldn't it. lindysalsagal Oct 2022 #12

As expected kacekwl Oct 2022 #11

Lets see, gab13by13 Oct 2022 #13

This is really about the Ukrainian War isn't it? Buckeyeblue Oct 2022 #15

They should be punished...and called out Demsrule86 Oct 2022 #16

Oil prices are slightly negative, I don't think this news is as big as people think RAB910 Oct 2022 #17

the news headline is more important than the production cut. WarGamer Oct 2022 #20

RBOB is up 40 cents in a month even *before* this durablend Oct 2022 #28

Not surprising. WarGamer Oct 2022 #18

& GOP house may cut aid to Ukraine jcgoldie Oct 2022 #24

Reckon they ran this by their friends Donald and Jared? Nt raccoon Oct 2022 #21

Of course they are. An unstable US is good for them. haele Oct 2022 #22

And the more bribeable GOP in power nt lostnfound Oct 2022 #33

Demand will drop in the coming recession. roamer65 Oct 2022 #23

That's capitalism. David__77 Oct 2022 #26

Russian Sympathizers. BlueIdaho Oct 2022 #27

Tweet from Josh Marshall budkin Oct 2022 #34

October Surprise. Liberal In Texas Oct 2022 #35

Rising interest rates from all central banks... Xolodno Oct 2022 #36

So- maybe 4-5%? mahina Oct 2022 #37

Gas raised over $1.00 per gallon overnight here in the Midwest. Emile Oct 2022 #38