Its working!!
Posted on 10/02/2022 5:18:50 PM PDT by EBH
DUBAI, Oct 2 (Reuters) - OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) next week, OPEC sources said on Sunday, in what would be the biggest move yet since the COVID-19 pandemic to address oil market weakness.
The meeting will take place on Oct. 5 against the backdrop of falling oil prices and months of severe market volatility which prompted top OPEC+ producer, Saudi Arabia, to say the group could cut production.
OPEC+, which combines OPEC countries and allies such as Russia, has refused to raise output to lower oil prices despite pressure from major consumers, including the United States, to help the global economy.
Prices have nevertheless fallen sharply in the last month due to fears about the global economy and a rally in the U.S. dollar after the Federal Reserves raised rates.
A significant production cut is poised to anger the United States, which has been putting pressure on Saudi Arabia to continue pumping more to help oil prices soften further and reduce revenues for Russia as the West seeks to punish Moscow for sending troops to Ukraine.
(Excerpt) Read more at reuters.com ...
About 3 to 4 cents
California’s problems are self-inflicted, and go way beyond the misbehavior of the pervert in the White House.
CA-CA-LAFORNIA issues spill over to other states.
Our NV fuel is piped in from CA, so our prices are also nuts.
$5.60 to over $6.00 depending on location and brand.
Good. Push it in the Dems’ faces.
The fickle American public has been gushing over how the lower gas prices are a reason to vote for the good ol’ Dems again as usual. Local peppy, cheerful news announcers are smiling and saying “Gas at the pumps went down another 2 cents for the fourth time in two weeks.” Hooray for Biden./S
The (phony) polls show they’re forgiving Joe Biden and boosting his popularity.
I am rooting for financial trouble to the economy BEFORE the elections and higher gas prices again BEFORE the elections.
The future of the US depends upon winning the House and hopefuly , maybe, the Senate and some governors’ jobs THIS year.
“About 3 to 4 cents”
***********************
So they make a profit of about 3 - 4 cents per gallon.
In California:
“…in total, you are paying an average of $1.19 in taxes and fees per gallon of gas…”
So who is making a “windfall”… the gas companies who do all the work or government which simply counts the money that automatically flows in?
Its working!!
Sounds like it was written by foreigners.
Reuters can’t even proof read their headlines I guess.
Gag me with a spoon…
And it will be blamed on hurricane gouging, this article will fly right under the radar.
Understood. It’s so sad that the hard core leftist politicians have seized power, frozen out conservative and moderate politics, and so destroyed California
You need only go take a look at the place to see just how rotten they’ve made it
And it was once a very good place
California elected Ronald Reagan governor, and overwhelmingly vote for him for President.
They also elected Governor Jerry “Moonbeam” Brown ...
Good or bad, it has always been a strange place
Pelousy. Schitt. Max maxine Waters.
Yes.
Strange
So... How much oil is Russia shipping vs. last year?
Maybe the cut is all Russia.
The interesting thing is that this coming recession is largely supply shortfall and inflation driven. OPEC+ may be cutting their own throats.
They’ll also likely kill a lot of people in 3rd world countries, at this rate.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.