| Oil prices on 13:48 - Apr 2 with 1569 views | WarwickHunt |
The massive fall in demand could be a factor. Call it a hunch. |  | |  |
| Oil prices on 13:51 - Apr 2 with 1566 views | builthjack |
Saudi v Russia oil war is the main thing that has brought oil crashing |  |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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| Oil prices on 14:04 - Apr 2 with 1546 views | Catullus |
| Oil prices on 13:48 - Apr 2 by WarwickHunt |
The massive fall in demand could be a factor. Call it a hunch. |
The fall in demand is why the Saudis are increasing production? Obviously Covid is why there's a fall in demand but did you read the rest of the post or just reply to the poster? |  |
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| Oil prices on 14:09 - Apr 2 with 1536 views | builthjack |
| Oil prices on 14:04 - Apr 2 by Catullus |
The fall in demand is why the Saudis are increasing production? Obviously Covid is why there's a fall in demand but did you read the rest of the post or just reply to the poster? |
I didn't read the above no. I do know that a few months ago Saudi wanted to slow production down, and asked Russianto do the same. Russia went on the attack, Saudi responded by dropping the price, and the result is the low prices that we are now seeing. It was nothing to do with coronavirus. It's been going on for months. It takes time for the drops to show at the pumps. | |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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| Oil prices on 14:19 - Apr 2 with 1520 views | Catullus |
| Oil prices on 14:09 - Apr 2 by builthjack |
I didn't read the above no. I do know that a few months ago Saudi wanted to slow production down, and asked Russianto do the same. Russia went on the attack, Saudi responded by dropping the price, and the result is the low prices that we are now seeing. It was nothing to do with coronavirus. It's been going on for months. It takes time for the drops to show at the pumps. |
My reply wasn't to you so don't be miffed 
Yes I know there's been an argument between Russia and Saudi but still, why are they increasing production during a massive slump in demand? It'll drive prices lower and put companies out of business. Is it to damage the Russian oil industry?
I'm just very suspicious of the Saudis (the people in control anyway) as they are selfish, greedy ideological driven and dangerous. | |
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| Oil prices on 15:28 - Apr 2 with 1459 views | PozuelosSideys |
Russia is in a bit of a transitional period at the moment. The sanctions they have been under for a while have limited the trading they can do internationally and therefore put them under pressure financially. Their response has been to pay down national debt at the expense of investment and growth and try and clear the decks and cut internal costs (effectively austerity). Given that one of, if not the main source of income currently is their oil, the Saudi's are putting the pressure on the Russian Government as less oil trade = less income = more pressure on Government and limits options.
The other main reason is that they are after a bigger market share. If you flood the market with a cheap product then it becomes very difficult to sell. The Saudi's can take a bigger cashflow hit than the Russians due to the above. Tank the Russian infrastructure, put suppliers out of business, then pick up the mess by turning the taps off when youre ready and make a killing. Then watch your increased market share go up quickly in value. [Post edited 2 Apr 2020 15:29]
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| "Michu, Britton and Williams could have won 3-0 on their own. They wouldn't have required a keeper." | | Poll: | Hattricks |
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| Oil prices on 17:13 - Apr 2 with 1368 views | Catullus |
| Oil prices on 15:28 - Apr 2 by PozuelosSideys |
Russia is in a bit of a transitional period at the moment. The sanctions they have been under for a while have limited the trading they can do internationally and therefore put them under pressure financially. Their response has been to pay down national debt at the expense of investment and growth and try and clear the decks and cut internal costs (effectively austerity). Given that one of, if not the main source of income currently is their oil, the Saudi's are putting the pressure on the Russian Government as less oil trade = less income = more pressure on Government and limits options.
The other main reason is that they are after a bigger market share. If you flood the market with a cheap product then it becomes very difficult to sell. The Saudi's can take a bigger cashflow hit than the Russians due to the above. Tank the Russian infrastructure, put suppliers out of business, then pick up the mess by turning the taps off when youre ready and make a killing. Then watch your increased market share go up quickly in value. [Post edited 2 Apr 2020 15:29]
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That makes perfect sense but at the same time as hitting the Russians it will hit a lot of Western companies, hence the question. Are the Saudis looking to strike on two fronts whilst the iron is hot?
Petrol/diesel is likely to drop below £1 per litre soon. Not that I'll be using any. | |
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| Oil prices on 17:33 - Apr 2 with 1338 views | WarwickHunt |
| Oil prices on 15:28 - Apr 2 by PozuelosSideys |
Russia is in a bit of a transitional period at the moment. The sanctions they have been under for a while have limited the trading they can do internationally and therefore put them under pressure financially. Their response has been to pay down national debt at the expense of investment and growth and try and clear the decks and cut internal costs (effectively austerity). Given that one of, if not the main source of income currently is their oil, the Saudi's are putting the pressure on the Russian Government as less oil trade = less income = more pressure on Government and limits options.
The other main reason is that they are after a bigger market share. If you flood the market with a cheap product then it becomes very difficult to sell. The Saudi's can take a bigger cashflow hit than the Russians due to the above. Tank the Russian infrastructure, put suppliers out of business, then pick up the mess by turning the taps off when youre ready and make a killing. Then watch your increased market share go up quickly in value. [Post edited 2 Apr 2020 15:29]
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This.
https://www.cnbc.com/2020/04/02/coronavirus-oil-crash-will-saudi-arabias-big-oil | | | |
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| Oil prices on 17:47 - Apr 2 with 1320 views | Fireboy2 |
| Oil prices on 17:13 - Apr 2 by Catullus |
That makes perfect sense but at the same time as hitting the Russians it will hit a lot of Western companies, hence the question. Are the Saudis looking to strike on two fronts whilst the iron is hot?
Petrol/diesel is likely to drop below £1 per litre soon. Not that I'll be using any. |
I will, I do a 250 miles a week so it will help me a great deal. |  | | |
| Oil prices on 18:10 - Apr 2 with 1301 views | Neath_Jack |
I've not read the article, but there was a bit on the wireless about this a week or two ago. What i could gather was that the Saudis and Russians had a bit of a gentlemens agreement with each other, but the Russians went back on it. |  |
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| Oil prices on 18:20 - Apr 2 with 1290 views | Zaxx |
Could they potentially be trying to put the squeeze on the US shale oil industry?
Shale oil is typically a bit more expensive to extract I believe. |  | | |
| Oil prices on 18:22 - Apr 2 with 1288 views | dickythorpe |
Petrol prices had fallen a good 10 days to 14 days before the lockdown |  | | |
| Oil prices on 18:31 - Apr 2 with 1276 views | Best_loser |
| Oil prices on 18:20 - Apr 2 by Zaxx |
Could they potentially be trying to put the squeeze on the US shale oil industry?
Shale oil is typically a bit more expensive to extract I believe. |
40 dollars a barrel to break even |  | | |
| Oil prices on 21:11 - Apr 2 with 1183 views | biggar |
Crash in demand. Fairly high production level. Combine the two and you have an oil glut and downward pressure on prices. | | | |
| Oil prices on 22:07 - Apr 2 with 1149 views | PozuelosSideys |
| Oil prices on 17:13 - Apr 2 by Catullus |
That makes perfect sense but at the same time as hitting the Russians it will hit a lot of Western companies, hence the question. Are the Saudis looking to strike on two fronts whilst the iron is hot?
Petrol/diesel is likely to drop below £1 per litre soon. Not that I'll be using any. |
I think its about pounding your competition into the ground. More players in the market = more variable supply and they have to compete with one another. If there are only one or two in the market (temporarily at least), you can control both supply and the price, therefore more power and cash.
The first sentence in that Guardian article is the key one though.. ;)
Theres all sorts of geopolitical willy waving going on behind the scenes with the oil countries as well. Saudi are seeing an opportunist window to double down the pressure of low demand and economic uncertainty due to teh virus by doing this. [Post edited 2 Apr 2020 22:10]
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| "Michu, Britton and Williams could have won 3-0 on their own. They wouldn't have required a keeper." | | Poll: | Hattricks |
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| Oil prices on 00:42 - Apr 3 with 1077 views | NotLoyal |
Rumours of stockpiling oil by the USA, I go out this morning for the first time in ages buy bread for two elderly folk opposite and next door and nearly have some cnt in a headlock because he can't control his mouth.
Odd times. |  |
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| Oil prices on 01:20 - Apr 3 with 1071 views | Brynmill_Jack |
| Oil prices on 00:42 - Apr 3 by NotLoyal |
Rumours of stockpiling oil by the USA, I go out this morning for the first time in ages buy bread for two elderly folk opposite and next door and nearly have some cnt in a headlock because he can't control his mouth.
Odd times. |
What did he say? “ That will be £2 please sir”? Tense times innit 😉 |  |
| Each time I go to Bedd - au........................ |
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| Oil prices on 07:26 - Apr 3 with 1014 views | builthjack |
| Oil prices on 00:42 - Apr 3 by NotLoyal |
Rumours of stockpiling oil by the USA, I go out this morning for the first time in ages buy bread for two elderly folk opposite and next door and nearly have some cnt in a headlock because he can't control his mouth.
Odd times. |
Perhaps you should get a breadmaker | |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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| Oil prices on 09:23 - Apr 3 with 940 views | Brynmill_Jack |
| Oil prices on 07:26 - Apr 3 by builthjack |
Perhaps you should get a breadmaker |
There’s f*ck all flour anywhere | |
| Each time I go to Bedd - au........................ |
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| Oil prices on 09:42 - Apr 3 with 924 views | dickythorpe |
Dried Yeast is impossible to source | | | |
| Oil prices on 09:44 - Apr 3 with 922 views | builthjack |
| Oil prices on 09:23 - Apr 3 by Brynmill_Jack |
There’s f*ck all flour anywhere |
Plenty in Tesco if you go at 7am. And yeast. | |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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| Oil prices on 09:46 - Apr 3 with 920 views | dickythorpe |
| Oil prices on 09:44 - Apr 3 by builthjack |
Plenty in Tesco if you go at 7am. And yeast. |
I saw the shelf edge label in Tesco Carmarthen and it says due in April 7th | | | |
| Oil prices on 09:46 - Apr 3 with 917 views | dickythorpe |
| Oil prices on 09:44 - Apr 3 by builthjack |
Plenty in Tesco if you go at 7am. And yeast. |
What Tesco is that to? | | | |
| Oil prices on 10:31 - Apr 3 with 890 views | builthjack |
| Oil prices on 09:46 - Apr 3 by dickythorpe |
What Tesco is that to? |
Llandrindod | |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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