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VoidOfsPg
Stranger
Registered: 05/09/05
Posts: 4,899
Loc: San Antonio, TX
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OPEC to cut output by 1 million barrels per day
#6157956 - 10/11/06 12:09 PM (17 years, 5 months ago) |
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ABUJA, Nigeria - OPEC has agreed to trim global oil production by 1 million barrels a day to boost prices, and its members were discussing how to share the cut, the cartel’s president said Wednesday.
“The cut itself is agreed,” said Nigerian oil minister and OPEC president Edmund Daukoru.
Oil prices barely changed after his comments.
Daukoru told reporters after a Cabinet meeting in the Nigerian capital that the cuts would begin at the end of the month and said members of the producing cartel were “nearing consensus” on how to share the cuts.
Daukoru’s comments followed a slew of reports attributed to anonymous sources from member countries who said the cartel plans to trim its daily production of 28 million barrels by 1 million barrels.
Some analysts had been skeptical that members of the Organization of Petroleum Exporting Countries were willing to voluntarily sell less oil right now — especially its largest producer, Saudi Arabia — given that prices are twice as high as they were three years ago even after a recent 25 percent decline.
OPEC is not scheduled to meet until December, though Daukoru had said last week that the cartel was considering holding an emergency meeting before then to discuss what to do about falling prices.
The last time OPEC trimmed its output — by 1 million barrels a day — was December 2004 when oil traded slightly above $40 a barrel.
Oil prices have fallen sharply in recent weeks from their mid-July high of $78.40 on the New York Mercantile Exchange. By Wednesday afternoon in Europe, light, sweet crude for November delivery was up 2 cents to $58.54 a barrel and brent crude was down 5 cents to $59.29 on the ICE Futures exchange in London.
http://www.msnbc.msn.com/id/15218550/
What the fuck? Those greedy assholes. They find any reason they possibly can to raise oil prices. Instead of blaming terrorist attacks on pipelines or the threat of war in Nigeria, this time the reason is blatantly: Oil prices are too low. I can't believe it.
Gas is about $2.13 in my area. How about yours?
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goobler
Reanimated
Registered: 02/24/03
Posts: 48,909
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Re: OPEC to cut output by 1 million barrels per day [Re: VoidOfsPg]
#6157993 - 10/11/06 12:17 PM (17 years, 5 months ago) |
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well, they dont have to sell it you know
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VoidOfsPg
Stranger
Registered: 05/09/05
Posts: 4,899
Loc: San Antonio, TX
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Re: OPEC to cut output by 1 million barrels per day [Re: goobler]
#6157998 - 10/11/06 12:18 PM (17 years, 5 months ago) |
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Yes, they do.
You know what kind of crisis that would cause of those countries decided to stop selling oil?
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RoosterCogburn
Fearless,one-eyed U.S.Marshall
Registered: 08/25/06
Posts: 8,508
Loc: Dirty South, NJ
Last seen: 12 years, 6 months
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Re: OPEC to cut output by 1 million barrels per day [Re: goobler]
#6158004 - 10/11/06 12:19 PM (17 years, 5 months ago) |
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I think they do have to sell it... They can't sell sand!
It's about 2.03 - 2.15 here in Jerz. I filled up last week for 1.98 and I have to admit, I got a chubbie.
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goobler
Reanimated
Registered: 02/24/03
Posts: 48,909
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Re: OPEC to cut output by 1 million barrels per day [Re: RoosterCogburn]
#6158023 - 10/11/06 12:22 PM (17 years, 5 months ago) |
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supply and demand, simple as that
Exxon should start buying up farmland...wait they are already
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SilentG
Stranger thanfiction
Registered: 09/11/06
Posts: 420
Last seen: 16 years, 4 months
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Re: OPEC to cut output by 1 million barrels per day [Re: RoosterCogburn]
#6158042 - 10/11/06 12:26 PM (17 years, 5 months ago) |
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Quote:
RoosterCogburn said: I think they do have to sell it... They can't sell sand!
It's about 2.03 - 2.15 here in Jerz. I filled up last week for 1.98 and I have to admit, I got a chubbie.
Aww man, it's like 2.17 in Austin right now and sadly, I got wood filling up. Then I remembered a year ago when I was like "Fuck! $1.75 is insane!"
It's fucking crazy that people get pissed for awhile and then accept this shit. I can't afford a hybrid car and the fucks who can all drive SUVs that push demand even further.
I'm gonna laugh my ass off when oil supplies in the majority of the OPEC nations dry up. It's really the nations with diminishing supplies that push production cuts the most.
-------------------- Yes, I could go drive somewhere everytime the urge to defecate hits, but...where's the fun in that. -Moth
Edited by SilentG (10/11/06 12:29 PM)
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Redstorm
Prince of Bugs
Registered: 10/08/02
Posts: 44,175
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Re: OPEC to cut output by 1 million barrels per day [Re: goobler]
#6158044 - 10/11/06 12:26 PM (17 years, 5 months ago) |
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They definitely need to seel it since oil is pretty much the only export many of these countries have. We'll still pay whatever price the market ends up on, though.
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goobler
Reanimated
Registered: 02/24/03
Posts: 48,909
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Re: OPEC to cut output by 1 million barrels per day [Re: Redstorm]
#6158062 - 10/11/06 12:29 PM (17 years, 5 months ago) |
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not a very large % of the people make $$ off the sale they can play with us for awhile
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Hank, FTW
Looking for the Answer
Registered: 05/04/06
Posts: 3,912
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Re: OPEC to cut output by 1 million barrels per day [Re: goobler]
#6158079 - 10/11/06 12:36 PM (17 years, 5 months ago) |
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We could just invade their countries and take it.
-------------------- Capliberty: "I'll blow the hinges off your freakin doors with my trips, level 5 been there, I personally like x, bud, acid and shroom oj, altogether, do that combination, and you'll meet some morbid figures, lol Hell yeah I push the limits and hell yeah thats fucking cool, dope, bad ass and all that, I'm not changing shit, I'm cutting to to the chase and giving u shroom experience report. Real trippers aren't afraid to go beyond there comfort zone "
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Redstorm
Prince of Bugs
Registered: 10/08/02
Posts: 44,175
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Re: OPEC to cut output by 1 million barrels per day [Re: Hank, FTW]
#6158106 - 10/11/06 12:42 PM (17 years, 5 months ago) |
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Yeah, since that worked well so far.
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SilentG
Stranger thanfiction
Registered: 09/11/06
Posts: 420
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Re: OPEC to cut output by 1 million barrels per day [Re: Redstorm]
#6158123 - 10/11/06 12:47 PM (17 years, 5 months ago) |
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Quote:
Redstorm said: Yeah, since that worked well so far.
The problem is that we've been all bush-league about it (pardon the pun!)
We should just invade Venezuela, end lots of horrible human rights violations after we suppress all military resistance, and then make it a US protectorate. Sadly, your average Venezuelan's life would probably get better from that.
-------------------- Yes, I could go drive somewhere everytime the urge to defecate hits, but...where's the fun in that. -Moth
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goobler
Reanimated
Registered: 02/24/03
Posts: 48,909
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Re: OPEC to cut output by 1 million barrels per day [Re: SilentG]
#6158135 - 10/11/06 12:50 PM (17 years, 5 months ago) |
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we should actually stop hording our production and ramp up the guldf and alaskan well instead of having this idea that we would be the last to have oil...
use our own and fuck 'em and expidite alteratives, the best way to screw the middle east is just not to buy as much
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Penguarky Tunguin
f n o r d
Registered: 08/08/04
Posts: 17,192
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Re: OPEC to cut output by 1 million barrels per day [Re: goobler]
#6158157 - 10/11/06 12:55 PM (17 years, 5 months ago) |
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Alaskan Well = wildlife refuge
Damn hippies.
-------------------- Every mistake, intentional or otherwise, in the above post, is the fault of the reader.
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minesstudent
Who knows?
Registered: 12/12/05
Posts: 400
Last seen: 11 years, 2 months
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Re: OPEC to cut output by 1 million barrels per day [Re: goobler]
#6158160 - 10/11/06 12:57 PM (17 years, 5 months ago) |
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The very best way to screw the middle east is to develop alternate energy.
-------------------- "The universe is the way it is because if it wasn't we wouldn't be here to talk about it"
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Cowgold
Bullshit
Registered: 04/04/05
Posts: 12,486
Loc: .
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Re: OPEC to cut output by 1 million barrels per day [Re: goobler]
#6158168 - 10/11/06 12:58 PM (17 years, 5 months ago) |
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I agree^^^ Domestic oil is where it's at. Only thing is that China and other oil dependant economies will have the resources available to grow into nations we would begin to fear.
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RoosterCogburn
Fearless,one-eyed U.S.Marshall
Registered: 08/25/06
Posts: 8,508
Loc: Dirty South, NJ
Last seen: 12 years, 6 months
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Re: OPEC to cut output by 1 million barrels per day [Re: Cowgold]
#6158197 - 10/11/06 01:03 PM (17 years, 5 months ago) |
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Quote:
I can't afford a hybrid car and the fucks who can all drive SUVs that push demand even further
Yup... It pisses me off when people who can actually afford to change things simply go, "ME WANT BIG TRUCK CUZ I CAN AFFORD IT".
Fuck you asshole, I hope your hummer explodes.
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Penguarky Tunguin
f n o r d
Registered: 08/08/04
Posts: 17,192
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Re: OPEC to cut output by 1 million barrels per day [Re: RoosterCogburn]
#6158220 - 10/11/06 01:07 PM (17 years, 5 months ago) |
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Hey now, that's not very enlightened tripper of you.
Shine on.
-------------------- Every mistake, intentional or otherwise, in the above post, is the fault of the reader.
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Cowgold
Bullshit
Registered: 04/04/05
Posts: 12,486
Loc: .
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Re: OPEC to cut output by 1 million barrels per day [Re: RoosterCogburn]
#6158231 - 10/11/06 01:09 PM (17 years, 5 months ago) |
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Psilocybeingzz
Registered: 12/15/02
Posts: 14,463
Loc: International waters
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Re: OPEC to cut output by 1 million barrels per day [Re: SilentG]
#6160304 - 10/11/06 10:35 PM (17 years, 5 months ago) |
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Quote:
We should just invade Venezuela, end lots of horrible human rights violations after we suppress all military resistance, and then make it a US protectorate. Sadly, your average Venezuelan's life would probably get better from that.
Sorry but are you retarded tonight???? What the fuck?
See the movie the revolution will not be televised, and lose the fucking we know best attitude, the people of the world dont owe you shit, and you especially dont have a right to take over countries.
Oh and btw, Iraq costs 11.5 million and hour Invade Venezuela, great fucking plan.
Quote:
Amnesty Confirms Violence Fears Amnesty International (AI) has publicly confirmed that a fear of violence directed at their staff forced the organisation to withdraw 'The Revolution Will Not Be Televised' from their recent film festival in Vancouver, Canada. In an article in the Guardian newspaper (http://www.guardian.co.uk/venezuela/story/0,12716,1090788,00.html), an Amnesty spokesman said the organisation had been forced to pull the film after staff at their Venezuelan office expressed fears for their safety if the film was screened.
Prior to this, Amnesty has received a series of representations alleging that the film had distorted key events. These representations were rejected. The film was only pulled after the safety fears were raised.
The Guardian confirmed that the campaign to halt screenings of the film is connected to opponents of the Venezuelan government.
The Revolution will not be Televised
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Corporal Kielbasa
Registered: 05/29/04
Posts: 17,235
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Re: OPEC to cut output by 1 million barrels per day [Re: VoidOfsPg]
#6160314 - 10/11/06 10:37 PM (17 years, 5 months ago) |
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We should resort back to steam and horses.
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kake
The answer to1984 is 1776.
Registered: 05/06/99
Posts: 2,782
Loc: The 66th harmonic
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Re: OPEC to cut output by 1 million barrels per day [Re: Corporal Kielbasa]
#6160536 - 10/11/06 11:50 PM (17 years, 5 months ago) |
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It's still fucking $2.50 here in Cali
and no, I'm not psychologically fooled into thinking thats cheap.
I think the spell has worn off me for good.
-------------------- The answer to 1984 is 1776.
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Leanin
Student of theIron Game
Registered: 04/18/06
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Re: OPEC to cut output by 1 million barrels per day [Re: kake]
#6160539 - 10/11/06 11:52 PM (17 years, 5 months ago) |
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OPEC has the world by the balls
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DNKYD
Turtle!
Registered: 09/23/04
Posts: 12,326
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Re: OPEC to cut output by 1 million barrels per day [Re: VoidOfsPg]
#6160709 - 10/12/06 01:06 AM (17 years, 5 months ago) |
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They'll try to hold onto whatever power they have until the very last drop of oil is sold.
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WakeboardrB
Pepe Silvia
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Posts: 13,678
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Re: OPEC to cut output by 1 million barrels per day [Re: DNKYD]
#6160867 - 10/12/06 02:53 AM (17 years, 5 months ago) |
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Fuck OPEC. Now a days Canada is the largest oil supplier to the US and has the second largest estimated reserve, behind Saudi Arabia.
Also they just discovered a MASSIVE reserve in the Gulf Of Mexico that could prove to larger than Saudi Arabias reserves.
And... Fuck Venezuela.
-------------------- Same thing happened to me when I played Neil Armstrong in Moonshot. They found me in an alley in Burbank trying to re-enter the earth's atmosphere in an old refrigerator box.
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Corporal Kielbasa
Registered: 05/29/04
Posts: 17,235
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Re: OPEC to cut output by 1 million barrels per day [Re: kake]
#6161087 - 10/12/06 05:50 AM (17 years, 5 months ago) |
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1.99 here
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Psilocybeingzz
Registered: 12/15/02
Posts: 14,463
Loc: International waters
Last seen: 11 years, 4 months
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Re: OPEC to cut output by 1 million barrels per day [Re: WakeboardrB]
#6161614 - 10/12/06 10:35 AM (17 years, 5 months ago) |
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Quote:
And... Fuck Venezuela.
If you mean, fuck their oil, good, otherwise fuck you
And dont get all your info from CNN people, latin america is going through a very positive change, of which, Vanezulea is only one country.
Things are finally getting better for the people down there, they no longer feel under the thumb of the US, and the world social forum cant be ignored any longer, people in Canada that I talk to think whats happening down there is great, however, our news isnt as bad, unlike s ome of the fitlered quasi-patriotic bullshit you may see about latin america, and their "scary" changes in the US.
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Redstorm
Prince of Bugs
Registered: 10/08/02
Posts: 44,175
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Re: OPEC to cut output by 1 million barrels per day [Re: Psilocybeingzz]
#6161624 - 10/12/06 10:38 AM (17 years, 5 months ago) |
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Some things are going well for Venezuela. Others, not so much. The improved standard of living for the impoverished is great, but the checks on the media and the other branches of gov't other than the executive is not so good.
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Psilocybeingzz
Registered: 12/15/02
Posts: 14,463
Loc: International waters
Last seen: 11 years, 4 months
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Re: OPEC to cut output by 1 million barrels per day [Re: Redstorm]
#6161681 - 10/12/06 10:58 AM (17 years, 5 months ago) |
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Quote:
Some things are going well for Venezuela. Others, not so much. The improved standard of living for the impoverished is great, but the checks on the media and the other branches of gov't other than the executive is not so good.
Really, they why does a group like Amnesty support them??? Amnesty is more then trustworthy when it comes to human rights violations, so why no outcry???
Because the efforts against Venezulela are America efforts, the rest of the world has no prblem, and you should see how the Venezuelian community here in Canada feels about their country, I've seen it,I know how some of them feel, they know its not a commie dictatorship or any other lie like the states tries to drop from the sky with their media empire.
Viva Venezuela!
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