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muriel_volestrangler

(101,361 posts) Sun Apr 17, 2016, 03:09 PM Apr 2016

Oil meeting aiming to cap output ends without agreement

Source: BBC

A meeting of the world's leading oil exporters to discuss capping production has ended without agreement.

After six hours of talks in Qatar, the country's energy minister Mohammed bin Saleh al-Sada said that the oil producers needed "more time".

Most members of the Opec producers' group, plus other oil exporters including Russia, attended the talks.

They wanted a deal that would freeze output and help stem the plunge in crude prices over the past 18 months.

Read more: http://www.bbc.co.uk/news/business-36066256

3 replies

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Oil meeting aiming to cap output ends without agreement (Original Post) muriel_volestrangler Apr 2016 OP

I still maintain this is a quid pro quo between the U.S. and the saudi's Javaman Apr 2016 #1

That would depend on which people in the US you're talking about muriel_volestrangler Apr 2016 #2

not in this case. Javaman Apr 2016 #3

Javaman

(62,534 posts)

1. I still maintain this is a quid pro quo between the U.S. and the saudi's

Reply to muriel_volestrangler (Original post)

Mon Apr 18, 2016, 12:01 PM

Apr 2016

low oil for arms.

we have been long providing arms to the saudi's to suppress the various nations around them going through their "arab springs".

first it was Bahrain now it's Yemen.

I just found it very interesting that the price of oil plunged right around the time the bombs started raining down on Yemen.

the very last thing the saudi's want is for some of their own natives to get restless. but a good example of what would happen to them, uf they ever got out of line, is what they are doing to Bahrain and Yemen

muriel_volestrangler

(101,361 posts)

2. That would depend on which people in the US you're talking about

Reply to Javaman (Reply #1)

Mon Apr 18, 2016, 12:32 PM

Apr 2016

Many of those getting oil via fracking are finding it hard to make a profit at the low price. The profits of the big oil companies, who have considerable clout, are also suffering.

Javaman

(62,534 posts)

3. not in this case.

Reply to muriel_volestrangler (Reply #2)

Mon Apr 18, 2016, 02:30 PM

Apr 2016

as long as joe average slob and drive his SUV the 1/10 a mile to 7/11 to get a big gulp. that's all that matters.

big oil, will never "suffer" they are transnational corporations. they get subsidies from the tax payers and they have their holdings off shore. they will never "suffer".

the only ones that suffer are the workers that work the oil patch.

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