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Incoming 50 Million Barrel ‘Saudi Oil Bomb’ Could Send Prices Even Lower
Yahoo Finance ^
| 04/24/20
Posted on 04/24/2020 6:29:21 AM PDT by Enlightened1
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Our friends...
To: Enlightened1
We need a tariff on oil imports now Mr. President!!!Save our jobs, protect our workers, raise huge revenues and do it now sir.
2
posted on
04/24/2020 6:31:45 AM PDT
by
central_va
(I won't be reconstructed and I do not give a damn...)
To: Enlightened1
Trump has said nothing negative about them which makes me wonder if MBS is acting as a proxy for him to put pressure on Iran, Russia, Venezuela, etc.
3
posted on
04/24/2020 6:32:32 AM PDT
by
aynrandfreak
(Being a Democrat means never having to say you're sorry)
To: Enlightened1
Has someone already agreed to accept the shipments?
4
posted on
04/24/2020 6:34:33 AM PDT
by
Blood of Tyrants
(Fauci wants you to believe that you get covid-19 and you die. It's fear mongering at its worst.)
To: Enlightened1
Which is why with the US unable to store its own output, some 50 million barrels of Saudi oil are on their way to the United States and due to arrive in the coming weeks, piling even more pressure on markets already struggling to absorb a glut of stocks, Reuters and MarineTraffic reported.
I'm an "ignor-a-moose". Does that mean somebody here bought the oil? 50 million barrels of oil we don't evidently need are on there way here how?
To: aynrandfreak
I have been puzzled by his lack of comments on the oil situation. I am sure he understands how much extra damage is being done to the economy, so I have to believe something is going on behind the scenes. Just wish we knew what it was.
6
posted on
04/24/2020 6:35:46 AM PDT
by
okkev68
To: Enlightened1
I’ve never trusted men that wear fan belts and shop towels on they’re heads.
7
posted on
04/24/2020 6:36:36 AM PDT
by
donozark
(Sam Walton: It was paper when we started, and it's paper afterward.)
To: okkev68
Bloomberg: Trump Developing Plans to Aid Oil Despite Democrats Opposition
To: Enlightened1
The Saudis cannot maintain their society if the price of oil remains this low. There will be hunger, disruption of their supply networks, social and political unrest. Sorry but cannot generate any sympathy for the 9/11 Saudis.
9
posted on
04/24/2020 6:39:19 AM PDT
by
allendale
(.)
To: Enlightened1
"the Saudis and Russians have declared war against US shale energy companies. It seems they weren't happy with American energy independence
Independence means using our own oil, and not having to import any from anywhere.
The oil glut will stop when the U.S. goes completely independent of any foreign oil. We can produce our own and use only our own.
Let the Saudis and Russians fight it out over exporting to other countries.
10
posted on
04/24/2020 6:41:25 AM PDT
by
adorno
To: central_va
Wouldn’t it be much cheaper to just pay a bunch of Somalis to hijack the ships?
11
posted on
04/24/2020 6:42:11 AM PDT
by
Alberta's Child
("And somewhere in the darkness ... the gambler, he broke even.")
To: Enlightened1
...fund manager, Kyle Bass, who tweeted earlier that “the Saudis and Russians have declared war against US shale energy companies....
*****************************************************
I havent seen a single tanker with Russian oil. What I see is an endless stream of tankers WITH SAUDI OIL. I see the real enemy!
12
posted on
04/24/2020 6:42:38 AM PDT
by
House Atreides
(It is not a HOAX but it IS A PRETEXT)
To: allendale
Yeah, the Suadis can only afford three AMG Mercedes now instead of 5.
13
posted on
04/24/2020 6:43:04 AM PDT
by
Nifty
To: House Atreides
Russia doesn’t have good port access. I’d expect most of their oil gets piped to Europe and/or China.
To: allendale
The Saudis cannot maintain their society if the price of oil remains this low. There will be hunger, disruption of their supply networks, social and political unrest. Sorry but cannot generate any sympathy for the 9/11 Saudis. Problem is, they have enough cash to 'weather this' for a few years
15
posted on
04/24/2020 6:44:56 AM PDT
by
11th_VA
(May you live in interesting times - Ancient Chinese Proverb)
To: allendale
The Saudis brought a suicide vest to the oil markets.
16
posted on
04/24/2020 6:45:15 AM PDT
by
Lurkina.n.Learnin
(The Revolution Will Not Be Televised but It Will Be Livestreamed)
To: donozark
And wear drapes from their mother’s dining room.
To: aynrandfreak
I’m not 100% certain how the delivery market works but this oil was purchased months ago before Russia started the production war with Saudi.
Saudi flooded the market with oil and put the hurt on all producers. They beat the Russians to it.
18
posted on
04/24/2020 6:48:26 AM PDT
by
rrrod
(6)
To: mmichaels1970
Does that mean somebody here bought the oil?
- Maybe, there is not a lot of detail in the story
50 million barrels of oil we don’t evidently need are on there way here how?
- It could have been ordered well in advance, that is what the futures contracts are all about.
To: Enlightened1
I’m already paying $2.50/Gallon here in Cali. If it goes any lower, I’ll be getting the gas for free and only paying taxes on it. LOL!!!!!
20
posted on
04/24/2020 6:54:10 AM PDT
by
Durbin
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