Price of Oil

Started by trueblue1234, January 19, 2016, 05:02:40 PM

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armaghniac

If at first you don't succeed, then goto Plan B

T Fearon

Anyone else think of Brian Ferry when they read the title of this thread?

armaghniac

Quote from: Fionntamhnach on March 08, 2020, 10:09:08 PM
It looks like the Saudis & Russia have had a bit of a fall out. Last week there were talks between OPEC countries and a few other oil producing countries (labelled OPEC+) about cutting production to help stabilise worldwide crude oil prices in light of the impact that the Coronavirus was having on it. But the Russians refused to accept the proposals, and the Saudis have now decided to go into reverse by increasing production in retaliation, hinting that they even might go into record production levels in an attempt to drive the price down and offer it at discounted rates to Europe, the USA & Asia. As a result, crude oil prices on Friday fell by ~10%.

https://www.bbc.co.uk/news/topics/cmjpj223708t/oil

https://www.bloomberg.com/news/articles/2020-03-07/saudis-plan-big-oil-output-hike-beginning-all-out-price-war

https://www.bbc.co.uk/news/business-51774622


If this oil "price war" between these two goes on for an extended period, given some of the turmoil already happening with falling oil use in China etc. then things could get quite interesting, not just for the general price of crude oil based fuels at home, but for the wider geopolitical consequences it might induce.

Oil below USD30 as the markets in Asia open.
maybe time to fill the heating tank in a couple of weeks.
If at first you don't succeed, then goto Plan B

marty34

Quote from: armaghniac on March 08, 2020, 11:58:11 PM
Quote from: Fionntamhnach on March 08, 2020, 10:09:08 PM
It looks like the Saudis & Russia have had a bit of a fall out. Last week there were talks between OPEC countries and a few other oil producing countries (labelled OPEC+) about cutting production to help stabilise worldwide crude oil prices in light of the impact that the Coronavirus was having on it. But the Russians refused to accept the proposals, and the Saudis have now decided to go into reverse by increasing production in retaliation, hinting that they even might go into record production levels in an attempt to drive the price down and offer it at discounted rates to Europe, the USA & Asia. As a result, crude oil prices on Friday fell by ~10%.

https://www.bbc.co.uk/news/topics/cmjpj223708t/oil

https://www.bloomberg.com/news/articles/2020-03-07/saudis-plan-big-oil-output-hike-beginning-all-out-price-war

https://www.bbc.co.uk/news/business-51774622


If this oil "price war" between these two goes on for an extended period, given some of the turmoil already happening with falling oil use in China etc. then things could get quite interesting, not just for the general price of crude oil based fuels at home, but for the wider geopolitical consequences it might induce.

Oil below USD30 as the markets in Asia open.
maybe time to fill the heating tank in a couple of weeks.

And maybe get a tank out back for the car!!!

armaghniac

You'd need a load of red diesel before the bollix in England abolishes it.
If at first you don't succeed, then goto Plan B

BennyCake

Quote from: armaghniac on March 09, 2020, 10:15:17 AM
You'd need a load of red diesel before the bollix in England abolishes it.

Sure isn't the green still available in the south? ;)

BennyCake

I see the home heating oil has come down lately. Got 500 litres about 3 weeks ago for 225. It's now 205.

GetOverTheBar

I've seen Petrol prices in parts of the North as low as I can remember.

armaghniac

Quote from: GetOverTheBar on March 09, 2020, 10:48:48 AM
I've seen Petrol prices in parts of the North as low as I can remember.

The ignorance of youth.
If at first you don't succeed, then goto Plan B

brokencrossbar1

Quote from: armaghniac on March 09, 2020, 10:52:30 AM
Quote from: GetOverTheBar on March 09, 2020, 10:48:48 AM
I've seen Petrol prices in parts of the North as low as I can remember.

The ignorance of youth.

Yeah I recall when the price of white was below the current price of red....do you remember the furore when the cost of diesel broke the £1 a litre mark?  Would be great to see it break the other way but highly doubt it!

five points

Quote from: brokencrossbar1 on March 09, 2020, 11:03:21 AM
Yeah I recall when the price of white was below the current price of red....do you remember the furore when the cost of diesel broke the £1 a litre mark?  Would be great to see it break the other way but highly doubt it!

I'm old enough to remember the furore when it broke £1 a gallon.

armaghniac

Sure when Orior was learning to drive it was 6/ a gallon.
If at first you don't succeed, then goto Plan B

giveherlong

Quote from: BennyCake on March 09, 2020, 10:46:09 AM
I see the home heating oil has come down lately. Got 500 litres about 3 weeks ago for 225. It's now 205.

£195 with LCC this morning

Tony Baloney

Quote from: brokencrossbar1 on March 09, 2020, 11:03:21 AM
Quote from: armaghniac on March 09, 2020, 10:52:30 AM
Quote from: GetOverTheBar on March 09, 2020, 10:48:48 AM
I've seen Petrol prices in parts of the North as low as I can remember.

The ignorance of youth.

Yeah I recall when the price of white was below the current price of red....do you remember the furore when the cost of diesel broke the £1 a litre mark?  Would be great to see it break the other way but highly doubt it!
As If a Cross man was filling with white.

RadioGAAGAA

Quote from: Tony Baloney on March 09, 2020, 11:10:00 AM
Quote from: brokencrossbar1 on March 09, 2020, 11:03:21 AM
Quote from: armaghniac on March 09, 2020, 10:52:30 AM
Quote from: GetOverTheBar on March 09, 2020, 10:48:48 AM
I've seen Petrol prices in parts of the North as low as I can remember.

The ignorance of youth.

Yeah I recall when the price of white was below the current price of red....do you remember the furore when the cost of diesel broke the £1 a litre mark?  Would be great to see it break the other way but highly doubt it!
As If a Cross man was filling with white.

Gonna be some trade bringing the green up north if the red is abolished!

i usse an speelchekor