jace lau + 2 September 21, 2020 OPEC kingpin Saudi Arabia will likely continue to apply greater pressure on others in OPEC+ who fail to abide by the alliance’s production curbs. On the other, the low-pressure weather system Tropical Storm Beta could lead to flooding on the U.S. Gulf Coast – home to extensive energy infrastructure. Find out more in this latest installment of what to watch in the oil market. more >> https://www.investreader.com/topics/3EYz42zsWCt so what do you think? Quote Share this post Link to post Share on other sites
Ward Smith + 6,615 September 21, 2020 Oligarchies are all fun and games, until they aren't. Same goes for oligopolies. Saudi Arabia, as the oligarch in chief was a driving force in pushing for the cartel known as OPEC. They looked positively brilliant, while prices were going up. However, being the scold is never fun, especially after your ham handed moves tanked the market in the first place. Everyone was happy with $100 oil (sans consumers, but who cares about them?) but the Saudis didn't like the LTO cutting into their market share and began dumping, trashing prices and ruining their own economy. Covid hit and they did it again, to punish the Russians who don't even belong to OPEC. Now they want to play "adult in the room"? 1 2 Quote Share this post Link to post Share on other sites
Tomasz + 1,608 September 22, 2020 (edited) Well oil-on-water has now normalized. Onshore storage next. So far so good. It looks situation is not as bad as I thought even 5 minutes ago. Edited September 22, 2020 by Tomasz 1 Quote Share this post Link to post Share on other sites
John Foote + 1,135 JF October 7, 2020 https://www.reuters.com/article/us-saudi-aramco-strategy-insight/sole-survivor-saudi-arabia-doubles-down-on-oil-to-outlast-rivals-idUSKBN26R3PA Just in case you thought KSA learned their lesson trying to flood the market to kill shale, think again. I'm not confident they can sustain 13 million a day. 1 Quote Share this post Link to post Share on other sites
NickW + 2,714 NW October 8, 2020 On 10/7/2020 at 4:46 AM, John Foote said: https://www.reuters.com/article/us-saudi-aramco-strategy-insight/sole-survivor-saudi-arabia-doubles-down-on-oil-to-outlast-rivals-idUSKBN26R3PA Just in case you thought KSA learned their lesson trying to flood the market to kill shale, think again. I'm not confident they can sustain 13 million a day. Only for a temporary period by opening up the valves on all the stripper wells and emptying the tanks at RT. 1 Quote Share this post Link to post Share on other sites
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