Oil Rockets 8% After OPEC+ Jolts Market with Surprise Output Cut

Re:Oil Rockets 8% After OPEC+ Jolts Market with Surprise Out... by ramesh31 on Sunday April 02, 2023 @08:42PM (#35417098)

Also it rained today.

OPEC gonna OPEC.

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Re:Oil Rockets 8% After OPEC+ Jolts Market with Surprise Out... by quickthrower2 on Sunday April 02, 2023 @08:45PM (#35417126)

Is there any analysis/record of why they made the decision? Or is that kept secret?

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Re:Oil Rockets 8% After OPEC+ Jolts Market with Surprise Out... by coaltunbey on Sunday April 02, 2023 @08:52PM (#35417171)

"OPEC's objective is to stabilize the oil price rather than countering fundamental shifts in demand and supply."

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Re:Oil Rockets 8% After OPEC+ Jolts Market with Surprise Out... by asimeqi on Sunday April 02, 2023 @08:47PM (#35417134)

They like money.

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Re:Oil Rockets 8% After OPEC+ Jolts Market with Surprise Out... by matthewdgreen on Sunday April 02, 2023 @08:49PM (#35417144)

They like a strong “alternatives to OPEC oil” industry.

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Re:Oil Rockets 8% After OPEC+ Jolts Market with Surprise Out... by mike_d on Sunday April 02, 2023 @08:50PM (#35417155)

The Saudi's want to help prop up Russia indirectly. Also everyone likes more money.

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Re:Oil Rockets 8% After OPEC+ Jolts Market with Surprise Out... by m00x on Sunday April 02, 2023 @09:24PM (#35417407)

> The Saudi's want to help prop up Russia indirectly.

Source?

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Re:Oil Rockets 8% After OPEC+ Jolts Market with Surprise Out... by mike_d on Sunday April 02, 2023 @09:35PM (#35417499)

This should catch you up from the last time they reduced production: https://thehill.com/policy/energy-environment/3675262-democr...

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Re:Oil Rockets 8% After OPEC+ Jolts Market with Surprise Out... by mhb on Sunday April 02, 2023 @08:51PM (#35417162)

Realized that the only way to reduce fossil fuel use is to increase its price?

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