Mon 5/25/2020 23:08 ET
DJIA24465.169.790.04%TELCO163.610.670.41%GOLD1735.050.520.03%Shanghai2834.2116.440.58%
S&P 5002955.457.090.24%BANKS310.942.710.87%OIL34.120.872.55%BITCOIN8893.3615.120.17%
NASDAQ9324.590.000.00%PHARM600.103.600.60%US/EU1.090.000.00%Futures2992.3839.501.32%
Welcome Stranger!  Please sign up or log in to enable additional features.Sign Up | Mail | Log In
Forum - Ipath Oil Return - OIL   

Msg Top | Msg List | < Prev | Next > | Post New | Reply | Privately | Search | Add OIL
  
From: deaconmike (Rep: 958) reply to mykDDate: 03/30/2020 12:09
Forum: Ipath Oil Return - Msg #10573Thread #674138236 (Rec: 1)
Re: Saudi Arabia to raise oil exports to record levels as price war rages

I'm sure you're more knowledgeable about this than I am,,
But i'm thinking that SA is pissed that we're energy dependent now &
not relying on OPEC.
Their goal is to hurt everyone imo and to hopefully eliminate some of
the competition for long term gains.



Reply to mykD - Msg #2829903 - 03/30/2020 12:05

Re: Saudi Arabia to raise oil exports to record levels as price war rages

The notion that SA is trying to hurt the US is the fallacy; they're sticking it to Russia. They have specifically targeted Russian oil buyers with their discounted pricing. I just read an article about how Ted Cruz and a bunch of other senators called up the SA ambassador and bitched her out about how they need to stop hurting US producers; this is so patently stupid and misguided. This is all about Russia and the craziness and ego of MBS. And I think people are underestimating how crazy and stupid MBS is and thinking he's rational and will back off the price war. I don't think he will. It will take Russia caving in, and I'm nut sure Putin will do that. But maybe...
What would you like to do? Message: Endorse | Bookmark | Report AbuseUser deaconmike: Reward | Watch | IgnoreOIL: Ignore

Msg Top | Msg List | < Prev | Next > | Post New | Reply | Privately | Search | Add OIL
  

TheLion.com | About Us | Agreement & Disclaimer | Privacy | Twitter
© 1999- TheLion.com, Inc.