Westside Steve Posted June 5, 2023 Report Share Posted June 5, 2023 That could that should have been prevented. https://www.aol.com/news/oil-prices-slumping-opec-producers-072340743.html Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to prop up the sagging price of crude after two previous cuts to... WSS Quote Link to comment Share on other sites More sharing options...
Brownsfan92 Posted June 5, 2023 Report Share Posted June 5, 2023 Surprisingly recent OPEC cuts have only had a quick spike in oil prices followed by oil prices decreasing. WIth that said, you still have this admin releasing from the SPR. It's at a 30+ year low and they need to replenish. OPEC is licking its chops for that day. 1 Quote Link to comment Share on other sites More sharing options...
Vambo Posted June 5, 2023 Report Share Posted June 5, 2023 Saudi Arabia is slashing oil supply. It could mean higher gas prices for US drivers Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted June 5, 2023 Author Report Share Posted June 5, 2023 2 hours ago, Brownsfan92 said: Surprisingly recent OPEC cuts have only had a quick spike in oil prices followed by oil prices decreasing. WIth that said, you still have this admin releasing from the SPR. It's at a 30+ year low and they need to replenish. OPEC is licking its chops for that day. Of course there's always an up and down. Part of the plan? Two steps forward one step back and you think you're ahead? That's still the least of our worries, what till it starts trading in Yuan. WSS 1 Quote Link to comment Share on other sites More sharing options...
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