Posted on 09/28/2016 12:01:24 PM PDT by bananaman22
According to a Reuters source, The Organization of the Petroleum Exporting Countries has in fact reached a deal that will “limit” oil production, and oil prices are in for a wild ride yet again as a result.
What was reported as mere rumor this morning, is apparently now a certainty. Reuters had reported this morning that OPEC may announce an output freeze deal later today, as part of the informal talks on the matter on the sidelines of the International Energy Forum, but details of the deal would be withheld until November.
(Excerpt) Read more at oilprice.com ...
How many hours will this last?
Better short it right now :) :) :)
It’s OK. Fracking will take up the slack.
Pre-Trump Iranian influenced move to further hurt world economies as they live off the billions Obama gave away.
Well, I guess they’ve given up on crushing the American shale producers. No way Iran, Iraq and others don’t cheat. Shows Saudi desperation.
Immediately after the Senate overrides Odumbo’s veto of bill permitting US citizens to sue nations sponsoring terrorists. Hmmm..
Anybody else think it has anything to do with Congress overriding
Obama’s veto of suing Saudies?
Thinking the same thing.
OIL SPIKES??? Oh good, does that mean the seniors will get a higher rate of COLA this year other than the .2% you announced all ready???
It would help everybody.
Except OPEC. Heh.
Yep. It won’t work for OPEC anymore. They are slitting their own throats.
As soon as the oil price goes over $40 a barrel, shale fracking will immediately become profitable.
Just wait til Trump gets rid of all the regulations on the energy sector. OPEC is finished.
OK, let’s drill - and frack - here, including the new Atlantic Canyons National Park off the coast of the northeast.
Does anyone buy OPEC Oil ?
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