"Analysts say Riyadh’s moves, which on Monday caused international benchmark Brent crude prices to crash to US$33 a barrel from nearly US$69 at the beginning of the year, are an attempt to demonstrate Saudi Arabia’s dominance of global oil markets. The US benchmark West Texas Intermediate on Monday also sank to US$27.71 a barrel."
"Global benchmark oil prices took their biggest single day plunge in 30 years on Monday after Saudi Arabia said it would increase oil production even as global demand has slumped in the wake of the coronavirus outbreak.
The outbreak had already hit oil prices as the circulation of people and goods around the world has slowed dramatically amid curbs imposed in an effort to slow the spread of the virus
With demand already falling like crazy, the timing of this is horrible,” said Jim Krane, fellow at Rice University’s Baker Institute of Public Policy in Houston. “It’s a lot of oil with no place to go.”
by Anonymous | reply 1 | March 10, 2020 7:29 AM |
Bad for stockholders, good for motorists
by Anonymous | reply 2 | March 10, 2020 8:01 AM |
What's the point of cheap gas when half of the population are too obese to move their fat asses?
by Anonymous | reply 3 | March 10, 2020 8:26 AM |
sounds good to me!
by Anonymous | reply 4 | March 10, 2020 8:28 AM |
I'm a bit puzzled by this move; the Saudis are tight with Dump after - among other things, letting them dismember a journalist on US soil - so the fact that the did something to help disrupt the US economy when their Beloved Leader is on the ropes is a bit confusing.
by Anonymous | reply 5 | March 10, 2020 8:35 AM |
MBS is too young and inexperienced, impulsive, and erratic.
by Anonymous | reply 6 | March 10, 2020 8:41 AM |
Flex to show whose top dog now?
Idk maybe just to move the stuff?
by Anonymous | reply 7 | March 10, 2020 8:52 AM |
Saudis are barbaric tribesmen whose monarchy goes back only to the 1930s. The rest of the Arab Islamic world consider them boors who struck oil. .
by Anonymous | reply 8 | March 10, 2020 8:53 AM |
It's bad for Pooty so it's fine with me.
by Anonymous | reply 9 | March 10, 2020 10:45 AM |
[quote] I'm a bit puzzled by this move; the Saudis are tight with Dump after - among other things, letting them dismember a journalist on US soil - so the fact that the did something to help disrupt the US economy when their Beloved Leader is on the ropes is a bit confusing.
Saudi Arabia, like every other country on Planet Earth, has domestic and foreign policy considerations beyond what the US. The world does not actually revolve around the US. In this case, Saudi Arabia is sending a message to Russia over an OPEC squabble.
I still think that MBS will be assassinated when his dad dies. What he's doing is bad for the world and bad for the US, yes, but it also bad for the Saudi royals and they are ruthless.
by Anonymous | reply 10 | March 10, 2020 10:54 AM |
Good for the Saudis! These are Trumps very close friends, let him sort this out and let the oil men of Texas lose some cash while they wait!
by Anonymous | reply 11 | March 10, 2020 11:28 AM |
The Saudis are a bunch of low lifes walking around on the sand.
The US discovered the oil, OP, not the Saudis
by Anonymous | reply 12 | March 10, 2020 11:41 AM |
The Saudis are also responsible for 9/11. I hope they all die.
by Anonymous | reply 13 | March 10, 2020 11:51 AM |
Saudis are Mr. Trump's good friends, and Jared Kushner's too. Jared can sort it all out now.
by Anonymous | reply 14 | March 10, 2020 12:05 PM |
Anyone who has worked with people from Saudi Arabia knows that the thread title applies.
by Anonymous | reply 15 | March 10, 2020 12:08 PM |
We should have invaded Saudi not Iraq, put all the top royalty (males) in Guantanamo, and established a puppet state led by women.
by Anonymous | reply 16 | March 10, 2020 2:29 PM |
Jared and Ivanka love Bin Douche Bag. Let them eat cake together.
by Anonymous | reply 17 | March 10, 2020 3:23 PM |
R5, much as I hate the Saudis and what they did, they didn’t do it on America soil if you’re talking about Jamal Khashoggi. They did it in the Saudi consulate in Turkey.
by Anonymous | reply 18 | March 10, 2020 3:27 PM |
[quote]they didn’t do it on America soil
No, that was just the 3000 people they killed.
by Anonymous | reply 19 | March 10, 2020 3:29 PM |
This is designed by the Saudis to hurt Russia. Everyone on this board has spent the last four years wanting to hurt Russia. Therefore, shouldn't this be a situation of the enemy of my enemy is my friend?
by Anonymous | reply 20 | March 10, 2020 4:33 PM |
Your friends don't execute you because you have a dick and like dick.
by Anonymous | reply 21 | March 10, 2020 6:49 PM |
R21 Yeah but Russia is no better.
by Anonymous | reply 22 | March 10, 2020 9:25 PM |
Where is Jared K. to explain this all to us?
by Anonymous | reply 23 | March 11, 2020 12:11 PM |
Yes, technically speaking, the Saudis didn't kill on American soil so as not to involve law enforcement & kindly did in the confines of an embassy, but there seems to be ample evidence that the Dump Admin & evil wax doll Jared gave the whole thing a greenlight - and yes, countries act on their own self interest that are not necessarily consistent with those of the US, HOWEVER, it's hard to argue that the Saudis will ever find a more friendly administration than Dump & Co. (I think even W might've put his foot down about brutally murdering journalists), so it just seems contrary to their interests to jeopardize the US economy, thereby undermining the election chances of the Big Orange Turd, since gas prices are central to the US economy.
by Anonymous | reply 24 | March 11, 2020 10:50 PM |
Strategically - not shit-stirring, really - what do you suppose Obama would have done if he was President at the time Khashoggi was murdered?
I realize Trump helped the Saudis get the reporter and Obama would never have done that, but what would he have done?
Drones? Embargoes?
It was a gruesome murder and a fuck you to the US honoring journalists.
by Anonymous | reply 25 | March 11, 2020 11:25 PM |
I just paid 1.76 gal and I'm liking it.
by Anonymous | reply 26 | March 11, 2020 11:27 PM |
Buy a Tesla.
by Anonymous | reply 27 | March 11, 2020 11:35 PM |
Two huge cunts, Saudis and Putin. Tramp's best friends....or Gerard's best friends. Doesn't matter.
by Anonymous | reply 28 | March 11, 2020 11:52 PM |
r22 I think you're thinking of Chechnya specifically
by Anonymous | reply 29 | March 12, 2020 12:04 AM |
Fair point R25 - and an honest answer to your question is that Obama - or any other president - wouldn't do much so long as the US economy is tied to the availability of (relatively) cheap oil.
by Anonymous | reply 30 | March 12, 2020 12:09 AM |
R29 Chechnya is horrible but really the entire nation of Russia is anti-gay.
by Anonymous | reply 31 | March 12, 2020 12:10 AM |