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OPEC...world in their hands
- Thread starter stonie
- Start date
Danish Blue
Well-Known Member
whilst i don't necessarily disagree i would be interested to know why. They increased output when prices rose and contract it when prices fall. They claim they are trying to stabilise the price which would be a good thing.
I think the speculators that drove oil to 145 dollars would be the ones to feel your wrath.
I think the speculators that drove oil to 145 dollars would be the ones to feel your wrath.
Gelsons Dad
Well-Known Member
stonie said:Corky said:Slagging off our owners there.
not just our owners but any bastards that are going to increase my fucking spending in these hard times want fuckin
What do you expect them to do. There simply protecting their own economic future. You could always get the yanks to invade in order to secure control of the oil output.
I noticed that AFTER the announcement yesterday the price was still below $65 a barrel.
Gelsons Dad
Well-Known Member
The price is set by future production so I would have expected a reaction in the market straight away if there was going to be one. You know it's the speculators trading futures that drives the price.
Most of the OPEC countries budget at about $50 per barrel. I read that russia had budgeted at $70 so they will be worrying.
Most of the OPEC countries budget at about $50 per barrel. I read that russia had budgeted at $70 so they will be worrying.