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Saudi Arabia agrees to increase oil production levels, will help 'stabilize markets,' White House says
fox news ^ | 07/15/2022 | Brooke Singman

Posted on 07/15/2022 7:30:56 PM PDT by ding_dong_daddy_from_dumas

The White House on Friday said Saudi Arabia has committed to increasing oil production in July and August—a move that will help "stabilize markets considerably."

The commitment from Saudi Arabia came after bilateral meetings between President Biden and administration officials and King Salman bin Abdulaziz al Said and Crown Prince Mohammed bin Salman, as well as Saudi Ministers.

"Saudi Arabia has committed to support global oil market balancing for sustained economic growth," the White House said. "We have welcomed the increase in production levels 50 percent above what was planned for July and August."

"These steps and further steps that we anticipate over the coming weeks have and will help stabilize markets considerably," the White House said.

(Excerpt) Read more at foxnews.com ...


TOPICS: Front Page News
KEYWORDS: anwr; biden; bidenflation; brookesingman; energy; energyschadenfreude; everythingisoptics; globalwarminghoax; greennewdeal; ihaveabridgetosell; justwords; keystonexl; mediaoptics; oil; opec; saudiarabia; surejan; taqiyya
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To: ding_dong_daddy_from_dumas
Remember when you grab your keys.......

.


41 posted on 07/15/2022 8:35:23 PM PDT by Karl Spooner
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To: ding_dong_daddy_from_dumas

Imagine if our stupid government wanted to build a modern new refinery or two, along with some necessary pipelines. But they would rather beg the Middle East and South America.


42 posted on 07/15/2022 8:37:58 PM PDT by Dragonspirit (CNN is the enemy. Ashli Babbitt is the hero.)
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To: ding_dong_daddy_from_dumas

43 posted on 07/15/2022 8:45:06 PM PDT by algore
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To: ding_dong_daddy_from_dumas

No way there will be a noticeable (to the people hurting) price change at the pump before the midterms. This is something that need to happen so the witless would see the difference between the parties. Enough of them outsourcing their thoughts and votes.


44 posted on 07/15/2022 8:48:03 PM PDT by Bigbrown
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To: Attention Surplus Disorder

Saudi has a hell of a lot of reserves that have not been drilled yet. They can not just open a spigot and get extra millions of barrels of oil. You have to drill it and produce it. This takes a lot of time. Saudi is operating at near capacity today as to take advantage of the high price of oil.

Oddly Saudi could flow their wells wide open and increase production greatly for a limited period of time. This will damage the production formation and ultimately limit the life and total production of a well. They will not do this.

We have a lot of reserves that have not been drilled as the Biden administration blocks such at every opportunity. Canada has a lot of reserves but Biden killed the Keystone pipeline on day 1 of his administration.

Biden is mentally incompetent. His advisors run the country and they hate this country in its present form. They are all hard core socialists quasi Marxists. They are hell bent on destroying us so they can build their socialist paradise. This always ends in despair, economic ruin, tyranny and death to those that oppose it.


45 posted on 07/15/2022 9:27:02 PM PDT by cpdiii (CANE CUTTER-DECKHAND-ROUGHNECK-OILFIELD CONSULTANT-GEOLOGIST-PILOT-PHARMACIST)
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To: ding_dong_daddy_from_dumas

That’s strange the tanker traffic locator says all of the Saudi oil is going to your are to China and all of our oil is going to Europe wonder what that’s about


46 posted on 07/15/2022 10:08:29 PM PDT by Therapsid (eagan )
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To: willk

wat will you do with all that extra money you save? Lol


47 posted on 07/15/2022 10:12:59 PM PDT by Bob434
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To: ding_dong_daddy_from_dumas

so i guess we are to understand that Saudis will give us more oil so that... we can then give china more oil?


48 posted on 07/15/2022 10:13:57 PM PDT by Bob434
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To: ding_dong_daddy_from_dumas

Do not believe it unless Salman confirms.


49 posted on 07/15/2022 10:18:40 PM PDT by NorseViking
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To: Bob434

I will buy one piece of Bazooka gum.


50 posted on 07/15/2022 10:21:25 PM PDT by moviefan8 (The proper function of man is to live, not to exist. - M in No Time To Die (2021))
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To: ding_dong_daddy_from_dumas

For only July and August. It will be over in a few weeks.


51 posted on 07/15/2022 10:25:42 PM PDT by conservative98
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To: moviefan8

lol don’t break your teeth, that gum is brutal-


52 posted on 07/15/2022 10:43:38 PM PDT by Bob434
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To: Attention Surplus Disorder

IIRC, I’d just read somewhere that the Saudis said increasing production wouldn’t do the US any good because the problem is in its refining capacity.


53 posted on 07/15/2022 10:46:22 PM PDT by Gaffer (EA)
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To: Bob434

I’ll try not too.

The last had one was when I was a kid. Frogot the price (5 cents?). It probably went up.

Gas is a little over $6 where I am now.


54 posted on 07/15/2022 10:53:53 PM PDT by moviefan8 (The proper function of man is to live, not to exist. - M in No Time To Die (2021))
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To: cpdiii
Biden is mentally incompetent. His advisors run the country and they hate this country in its present form. They are all hard core socialists quasi Marxists.

If Biden was 15-20 years younger, do you think he would tell his advisors to ocassionally to **** off? Biden as an opportunist, like Bill Clinton. He is not an ideologue like we are seeing many Democrats today where the Far Left is in charge.

55 posted on 07/15/2022 11:03:16 PM PDT by MinorityRepublican
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To: ding_dong_daddy_from_dumas

https://www.archyde.com/oil-production-quotas-for-opec-countries-in-july-2022/

Planned oil production increase for July and August was 170,000 barrels/day. That means the increase will be 255,000 barrels/day. The big increase is 85,000 barrels/day. Not impressive IMHO.


56 posted on 07/15/2022 11:18:42 PM PDT by Chgogal (If Democrats are not aborting babies they are starving them. )
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To: BradyLS; All; Everybody; everyone

Yes Alaska has massive amounts of oil

Trump opened Anwar, Biden shut it down.

USA has enough oil and Nat Gas to last 400 years or more.

If Biden got out of the way, in a matter of 2-3 months we could be energy independent again.

With gas about $2.40 a gallon or so.

Bidens puppeteers want to destroy our country.

That’s why they stole the election.


57 posted on 07/16/2022 12:36:00 AM PDT by Syncro (God is Good--Facts is Facts)
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To: butlerweave

Yes

Even at $50 bbl,
Putin economy would collapse.

And we could sell oil and LPG across the world and become a solvent Soverign country again.


58 posted on 07/16/2022 12:39:27 AM PDT by Syncro (God is Good--Facts is Facts)
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To: Dragonspirit

Bidens bosses have moved some refineries over to refining bio fuels.

They need to be switched back, and we need to build new ones.

Some have just been shut down to short us on gas.

Satan is running the whitehouse.


59 posted on 07/16/2022 12:47:26 AM PDT by Syncro (God is Good--Facts is Facts)
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To: ding_dong_daddy_from_dumas
Only for two months

The deal is only July/August? So supply chain-wise this should carry them until November election. This is not a deal of any sorts. What is really happening here?

Timeline looks like for the elections, but I would caution to consider this is also the time frame when it is predicted the biggest hit of food scarcity starts. There is more in play here than just the oil.

60 posted on 07/16/2022 1:35:57 AM PDT by EBH (Let God Sort Them Out. 1776-2021 May God Save Us.)
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