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NOPEC

Discussion in 'Politics Forum' started by Blk04L, Dec 7, 2018 at 9:49 AM.

  1. Blk04L

    Blk04L SvT Addict Established Member

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    Just read up on this, any of you think this will gain more traction now that OPEC will cut down production of barrels by 800k a day in January? I know Trump has gone on record (Twitter lol) about the market being artificially high.

    https://www.cnbc.com/2018/12/04/us-...rclays-cohen-says.html?recirc=taboolainternal

    The risk of U.S. legal action against OPEC could prompt more members of the influential oil cartel to sever ties with the group, according to the head of energy markets research at Barclays.

    Washington is reportedly considering legal claims against OPEC for allegedly manipulating the energy market.

    If passed, the proposed No Oil Producing and Exporting Cartels Act — more commonly referred to as NOPEC — could revoke the sovereign immunity that has long shielded members of the Middle East-dominated group from U.S. legal action.

    Oil prices surge more than 4% as OPEC reaches deal to cut output

    OPEC producers agreed to cut output by 800,000 barrels a day beginning in January, according to Iranian Energy Minister Bijan Zangeneh. Non-OPEC producers were proposing a 400,000 barrels a day cut, sources told Dow Jones.
     
  2. Silverstrike

    Silverstrike It's to big to move FAST! Established Member

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    My dad had the best answer to these middle ages barbarians. What ever you charge for oil we want the same for a bushel of wheat. Lets see if you want the most for your oil as you can't live on it like you can when it comes to food.
     
    Blown 89 likes this.

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