Saudis opt out of opec,, good or bad?
#8605228
Yesterday at 05:40 PM
Yesterday at 05:40 PM
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Joined: Jun 2007
Illinois
foxkidd44
OP
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OP
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Illinois
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Just saw were the Saudi Arabia is leaving opec..
Is that good or bad news??
Stand by your principles, Stand by your guns, and victory complete and permanent is sure at last.
Abraham Lincoln
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Re: Saudis opt out of opec,, good or bad?
[Re: Savell]
#8605257
Yesterday at 06:58 PM
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Oakland, MS
yotetrapper30
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…. Saudi runs opec … doubt they opted out lol
Gotta find a way, a better way, I'd better wait
Just because you're paranoid doesn't mean they're not after you
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Re: Saudis opt out of opec,, good or bad?
[Re: foxkidd44]
#8605263
Yesterday at 07:09 PM
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Donnersurvivor
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UAE left, its a great thing for oil prices. UAE can avoid shipping their old through the strait of Hormuz via pipeline. May 1st they will not have a cap on the amount of oil they can sell allowing them to capitalize on these prices and giving the world a modicum of relief
I don't know half of you half as well as I should like, & I like less than half of you half as well as you deserve
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Re: Saudis opt out of opec,, good or bad?
[Re: foxkidd44]
#8605266
Yesterday at 07:11 PM
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MT
snowy
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UAE leaving has been something they wanted for a long time. They want to produce more oil so it will increase supply and that means lower prices. It also gives the big oil US oil producers to partner with these larger countries. To answer your question UAE leaving OPEC will benefit the USA in many ways. The long haul it is good for us.
The current issue for them UAE is the strait is closed so they can't start shipping more oil out till strait opens. Iran is the issue and wants to be boss of that international water highway.
Give me a fish, I will eat for a day. Teach me to fish, I will eat for a lifetime
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Re: Saudis opt out of opec,, good or bad?
[Re: KeithC]
#8605427
Yesterday at 10:55 PM
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Joined: Jun 2007
Illinois
foxkidd44
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Illinois
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The UAE leaving OPEC could be good for us. Oil could be produced at a much higher rate, but it's production is limited by OPEC to keep prices high. The UAE will no longer be forced to limit production, which will drive prices down if it starts producing more.
Keith Ty for the explanation. Good deal
Stand by your principles, Stand by your guns, and victory complete and permanent is sure at last.
Abraham Lincoln
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Re: Saudis opt out of opec,, good or bad?
[Re: foxkidd44]
#8605447
Yesterday at 11:41 PM
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Alaska and Washington State
waggler
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It might be because the UAE wants to detach from the petro-dollar.
That would really upset the west, but it seems to be the way things are headed.
If this is the reason, it would NOT be good for the USA.
"My life is better than your vacation"
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Re: Saudis opt out of opec,, good or bad?
[Re: alaska viking]
#8605581
2 hours ago
2 hours ago
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Joined: Dec 2006
MN, Land of 10,000 Lakes
Trapper7
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Well, it's not just that the UAE wants to pump more oil. They also want a bit different relationship with Isreal than the rest of the Arab states. That is correct. Israel and the US has installed the Iron Dome in their country with the Israelis educating them on the operation of it. Iran has always been their enemy. They sent more missiles into the UAE than they did into Israel. Some of the other countries in the region have remained more neutral when it comes to Iran. The UAE will build a pipeline that will bypass the Strait of Hormuz.
You know you're old when you walk past a rest room and think, as long as I'm here........
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Re: Saudis opt out of opec,, good or bad?
[Re: Trapper7]
#8605586
2 hours ago
2 hours ago
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Joined: Dec 2006
Minnesota
330-Trapper
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Well, it's not just that the UAE wants to pump more oil. They also want a bit different relationship with Isreal than the rest of the Arab states. That is correct. Israel and the US has installed the Iron Dome in their country with the Israelis educating them on the operation of it. Iran has always been their enemy. They sent more missiles into the UAE than they did into Israel. Some of the other countries in the region have remained more neutral when it comes to Iran. The UAE will build a pipeline that will bypass the Strait of Hormuz. Good then
NRA and NTA Life Member
www.BackroadsRevised@etsy.com
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Re: Saudis opt out of opec,, good or bad?
[Re: foxkidd44]
#8605590
2 hours ago
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Joined: Dec 2006
MN, Land of 10,000 Lakes
Trapper7
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Iran wants to control the flow of oil through the strait. The OPEC nations seem OK with that. Probably another reason why UAE has pulled out of OPEC.
The UAE and Bahrain were the first to sign the Abraham Accord peace agreement. The Saudis and others in the region have yet to do that causing some tensions in the region.
You know you're old when you walk past a rest room and think, as long as I'm here........
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Re: Saudis opt out of opec,, good or bad?
[Re: waggler]
#8605591
2 hours ago
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rvsask
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It might be because the UAE wants to detach from the petro-dollar.
That would really upset the west, but it seems to be the way things are headed.
If this is the reason, it would NOT be good for the USA. This is a huge part of the reason, there are many articles explaining it.
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