ThunderBlade + 231 TB October 3, 2018 Russia and Saudi Arabia struck a private deal in September to raise oil output to cool rising prices and informed the United States before a meeting in Algiers with other producers, four sources familiar with the plan said. U.S. President Donald Trump has blamed the Organization of the Petroleum Exporting Countries (OPEC) for high crude prices and called on it to boost output to bring down fuel costs before the U.S. congressional elections on Nov. 6. The deal underlines how Russia and Saudi Arabia are increasingly deciding oil output policies bilaterally, before consulting with the rest of OPEC. Quote Share this post Link to post Share on other sites
Pavel + 384 PP October 3, 2018 Maybe oil will go down... Quote Share this post Link to post Share on other sites
damirUSBiH + 327 DD October 3, 2018 Obviously, real negotiations now take a place between Moscow, Riyadh and Washington - far away from OPEC headquarter in Vienna... Quote Share this post Link to post Share on other sites
franco + 96 FM October 3, 2018 Yep. OPEC is a framework, but real decisions about oil policy are being made somewhere else.... Quote Share this post Link to post Share on other sites
ATK + 355 AK October 3, 2018 (edited) 19 minutes ago, Pavel said: Maybe oil will go down... Haha I doubt it, too many hedge funds are long right now  Media will probably spin it as, "many still skeptical about if they can raise their output" Edited October 3, 2018 by ATK Quote Share this post Link to post Share on other sites
rainman + 263 October 3, 2018 Daily oil consumption per capita: India: Â Â 0.4 liter China: Â 1 liter Russia: 3 liters UK: Â Â Â 4 liters Japan: 6 liters US: Â Â 10 liters Canada: 10.2 liters Saudi Arabia: 16 liters Kuwait: 21 liters 1 Quote Share this post Link to post Share on other sites
50 shades of black + 254 October 3, 2018 They always can say it's a compensation, like they are already doing. "Saudi Arabia’s energy minister Khalid al Falih said oil output has reached 10.7m barrels a day — the joint highest level on record — as the kingdom moves to increase supply to compensate for the loss of Iranian barrels from US sanctions" Quote Share this post Link to post Share on other sites
Petar + 76 PP October 3, 2018 Simplify - more money for regimes in Moscow and Riyadh... Quote Share this post Link to post Share on other sites
jaycee + 348 jc October 3, 2018 24 minutes ago, damirUSBiH said: Obviously, real negotiations now take a place between Moscow, Riyadh and Washington - far away from OPEC headquarter in Vienna... Not convinced Washington has much say in it seeing as they cannot control output within their own country like Russia and Saudi. Trump to be fair has helped drive up oil but that was not his intention with the sanctions on Iran. The Saudis and the Russians want to keep oil prices stable around $70 to $80 as they want to avoid a spike up and the inevitable fall down as countries start substituting other forms of energy and materials for oil. Once they change its difficult to get them back. 1 Quote Share this post Link to post Share on other sites
ATK + 355 AK October 3, 2018 Bulls don't care, shit the price was lower yesterday on no news than today. Don't even bother trying to short and just buy the dips. Quote Share this post Link to post Share on other sites
mad-trader + 25 TT October 3, 2018 (edited) simply deleted RANT.. will put it somewhere soon  OIL is racing -- better to take profits.. What I do..lots of long and little short futures  Edited October 3, 2018 by mad-trader Quote Share this post Link to post Share on other sites
mad-trader + 25 TT October 3, 2018 Wanted everyone to see.. Not really best place to RANT and RAVE...  I trade NEWS OVERSHOOTs everywhere.. as bread and butter trade  How can I fix the post?? Quote Share this post Link to post Share on other sites
jaycee + 348 jc October 3, 2018 (edited) . Â Edited October 3, 2018 by jaycee Quote Share this post Link to post Share on other sites
Rodent + 1,424 October 3, 2018 5 hours ago, rainman said: Daily oil consumption per capita: India: Â Â 0.4 liter China: Â 1 liter Russia: 3 liters UK: Â Â Â 4 liters Japan: 6 liters US: Â Â 10 liters Canada: 10.2 liters Saudi Arabia: 16 liters Kuwait: 21 liters Interesting statistic! Thanks for sharing. Do you have a source for this information, and do we know why Kuwait has such a high usage per capita? Â 1 Quote Share this post Link to post Share on other sites
jaycee + 348 jc October 3, 2018 1 hour ago, Rodent said: nteresting statistic! Thanks for sharing. Do you have a source for this information, and do we know why Kuwait has such a high usage per capita? Their power stations are all oil burners 1 Quote Share this post Link to post Share on other sites
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