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-   -   What's OPEC To Do? (http://forums.pelicanparts.com/off-topic-discussions/323761-whats-opec-do.html)

legion 01-08-2007 10:13 AM

What's OPEC To Do?
 
http://news.yahoo.com/s/ap/20070108/ap_on_bi_ge/oil_prices

It seems even putting out rumors of production cuts isn't effectively spooking the market.

turbo6bar 01-08-2007 10:36 AM

Donkey control of Congress is good for a $10/bbl price discount. That, and obviously GW is losing his ability to increase profits for his cronies. It is time to wage a new war in the Middle East. Free SUVs for everyone.

legion 01-10-2007 05:17 AM

With prices consistently declining. I give it a week, tops, before we see some saber-rattling from Iran and/or Venezuela.

Chocaholic 01-10-2007 05:28 AM

Interesting that oil prices have been low for weeks, but prices at the pump haven't changed appreciably.

Hmmmmmm. Last summer, if a Shiek farted in SA, oil prices went up and gas prices went up almost instantly in response. I'm sure it's all completely explainable and ethical. Nothing to see here. Move on...

turbo6bar 01-10-2007 05:38 AM

Speculation on my part, but we may be running at capacity at refining plants in the US, so gasoline prices may not show significant change.

The decline is more widespread than crude oil. Copper and other materials are declining, as well, indicating that some speculative positions are unwinding and/or demand is falling.

Rot 911 01-10-2007 06:12 AM

Our price at the pumps just dropped 10 cents a gallon yesterday from $2.19 to $2.09 for regular unleaded.

artplumber 01-10-2007 06:15 AM

Quote:

Originally posted by legion
With prices consistently declining. I give it a week, tops, before we see some saber-rattling from Iran and/or Venezuela.
Russia to europe

legion 01-10-2007 06:30 AM

Quote:

Originally posted by artplumber
Russia to europe
Yes, but that hasn't driven prices up because it doesn't affect the U.S. market.

artplumber 01-10-2007 08:07 AM

Eventually


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