Skip to comments.Breaking: Crude Oil Prices Spike on Saudi and OPEC Surprise
Posted on 03/04/2021 8:34:01 AM PST by AAABEST
Oil prices are soaring on the back of Saudi Arabia and OPEC’s decision to roll over existing cuts throughout April. Like many and including myself, this was the lowest likely outcome with the consensus set for a 500kbpd increase in production. However, that is what has turned out and as a result, WTI and Brent crude futures are up a lofty 5% with the latter at the highest level since January 2020. In light of this outcome, there seems to be little in the way that prevent Brent crude futures hitting $70 in the very short term.
It is important to note that the reports are still emerging with an official statement yet to be finalised
Details to follow…..
(Excerpt) Read more at dailyfx.com ...
“Jao Xiden picked a great time to decimate our domestic market.”
All going according to the plan of Jao’s puppet masters.
And the greenies rejoiced...
The US is weak and I’ve said it is now ripe for an attack.
And this is an attack.
shouldn’t this help fracking?
The GOP are dummies if they don’t pin the riding cost of energy on the dems and Vegetable Joe.
They should hammer that point during every interview, congressional speech, and written communique.
Or they will until they find out the hard way just how much stuff comes from a barrel of oil.
“shouldn’t this help fracking?”
Ooops - I used the “L” word . . .
Just wait until the Houthis attack Aramco. $100/ barrel, easy.
It should but it won't. They don't want cheap energy, that fosters independence. They want expensive energy that relies on countries that hate us. This fosters dependence which increases their power.
You democrats voted for it...eat it, bitches.
The GOPe seems to be silent on everything! Why isn’t the Gov of Texas sending the NG to stop the buses taking COVID infected illegals into their State? It’s an emergency I would assume and if so then what the heck are the Texas NG for any damn way?
$5 a gallon gasoline coming to your local filling station sooner than expected. In Washington State the legislature is trying to increase our gasoline tax to 67.4 cents per gallon which combined with the 18.4% federal tax on a gallon of gas is going to be taking quite a bite out of commuter’s paychecks.
Fracking, yes, as the lead times are generally quite short.
Nukes... lead times are loooong. For procedural and political and bureaucratic reasons.
Never underestimate the ineptitude of Republicans they steal defeat from the jaws of victory on a regular basis
You got that right.
Its been going on a while..impeachment, Russia, etc etc, covid release, china is a mass murderer on par with Hitler, and has already taken us over
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