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Re: Crude oil [Re: Lufkin Trapper] #7837259
04/03/23 02:07 PM
04/03/23 02:07 PM
Joined: Aug 2011
Posts: 45,648
james bay frontierOnt.
B
Boco Offline
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Boco  Offline
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Joined: Aug 2011
Posts: 45,648
james bay frontierOnt.
Time to ditch Saudi oil,and let the dessert dwellers drink it.
Dont need them camel humpers holding us hostage whenever it suits them.

Last edited by Boco; 04/03/23 02:09 PM.

Forget that fear of gravity-get a little savagery in your life.
Re: Crude oil [Re: Lufkin Trapper] #7837266
04/03/23 02:14 PM
04/03/23 02:14 PM
Joined: Mar 2007
Posts: 35,213
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
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Joined: Mar 2007
Posts: 35,213
McGrath, AK
There is one rather eccentric reason behind the cuts also.

The Saudi oil minister has a personal hatred for all OTHER oil traders. Especially short sellers.

It has been pretty evident that quite a few futures traders have been on the short side and making money recently as crude has dropped about 20 % since the high a few months ago.

So, Mr Abdulaziz bin Salman Al Saud, figured he could catch lot of shorts off balance of he announced a surprise cut to production and cost them all a bunch of money as they rush to cover their shorts.

Personally, I think it's kind of funny.


Mean As Nails
Re: Crude oil [Re: Dirt] #7837270
04/03/23 02:16 PM
04/03/23 02:16 PM
Joined: May 2010
Posts: 10,543
MN
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Steven 49er Offline
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Steven 49er  Offline
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Joined: May 2010
Posts: 10,543
MN
Originally Posted by Dirt
The primary reason for Saudi to cut production was because U.S. was going to buy 200 million plus barrels of crude oil at $70 a barrel?


Follow along they cut production because the US said they were going to start filling the SPR when oil got down to 70. When the biden administration said they weren't going anytime soon, OPEC said ok.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Crude oil [Re: Lufkin Trapper] #7837271
04/03/23 02:18 PM
04/03/23 02:18 PM
Joined: May 2010
Posts: 10,543
MN
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Steven 49er Offline
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Steven 49er  Offline
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Posts: 10,543
MN
Robert you know full well if the US wants to protect it's reserve currency, we can't tell the Saudis to pound sand


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Crude oil [Re: Lufkin Trapper] #7837274
04/03/23 02:27 PM
04/03/23 02:27 PM
Joined: Dec 2008
Posts: 4,421
Yukon
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yukon254 Offline
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Joined: Dec 2008
Posts: 4,421
Yukon
Elections have consequences...


do unto others as you would have them do unto you

www.grizzlycreeklodge.com
Re: Crude oil [Re: Lufkin Trapper] #7837288
04/03/23 02:48 PM
04/03/23 02:48 PM
Joined: Mar 2021
Posts: 611
Sergievsk, Russia
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KOSOI Offline
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Joined: Mar 2021
Posts: 611
Sergievsk, Russia
Originally Posted by spjones
Saudis told Biden to F off!!

well said the Saudis

Re: Crude oil [Re: Lufkin Trapper] #7837289
04/03/23 02:49 PM
04/03/23 02:49 PM
Joined: Feb 2011
Posts: 1,060
alberta
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spjones Offline
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Joined: Feb 2011
Posts: 1,060
alberta
Buffet bought 460 million of OXY couple weeks ago,,,,


Makes you wonder,,,,,,,,,but I guess that’s why he is da man


Make W17 happy!!

Re: Crude oil [Re: Steven 49er] #7837296
04/03/23 02:53 PM
04/03/23 02:53 PM
Joined: Aug 2011
Posts: 45,648
james bay frontierOnt.
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Boco Offline
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james bay frontierOnt.
Originally Posted by Steven 49er
Robert you know full well if the US wants to protect it's reserve currency, we can't tell the Saudis to pound sand

Too late to worry about that.The saudi machinations in cahoots with the enemy axis (Russia China)are doing that right now.
Time to take some pro active moves instead of sitting back and letting the enemy call the shots.

Last edited by Boco; 04/03/23 02:56 PM.

Forget that fear of gravity-get a little savagery in your life.
Re: Crude oil [Re: Lufkin Trapper] #7837311
04/03/23 02:59 PM
04/03/23 02:59 PM
Joined: Mar 2021
Posts: 611
Sergievsk, Russia
K
KOSOI Offline
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KOSOI  Offline
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Joined: Mar 2021
Posts: 611
Sergievsk, Russia

Perhaps soon many Americans will have to switch to electric cars, and hunters from Canada will drive beavers and martens. cry

Re: Crude oil [Re: spjones] #7837315
04/03/23 03:05 PM
04/03/23 03:05 PM
Joined: Mar 2007
Posts: 35,213
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 35,213
McGrath, AK
Originally Posted by spjones
Buffet bought 460 million of OXY couple weeks ago,,,,


Makes you wonder,,,,,,,,,but I guess that’s why he is da man


Make W17 happy!!


LOL !! That's right and OXY is up $2.99 at the moment laugh


Mean As Nails
Re: Crude oil [Re: KOSOI] #7837326
04/03/23 03:30 PM
04/03/23 03:30 PM
Joined: Aug 2011
Posts: 45,648
james bay frontierOnt.
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Boco Offline
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Boco  Offline
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Joined: Aug 2011
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james bay frontierOnt.
Originally Posted by KOSOI

Perhaps soon many Americans will have to switch to electric cars, and hunters from Canada will drive beavers and martens. cry

I rode a few beaver in my day.
Its not so bad,you should try it sometime,lol.

Last edited by Boco; 04/03/23 03:31 PM.

Forget that fear of gravity-get a little savagery in your life.
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