OPEC Oil Data Show 3 Million-Barrel Shortfall on Saudi Supply Squeeze
Bloomberg: OPEC Oil Data Show 3 Million-Barrel Shortfall on Saudi Supply Squeeze
Global oil markets face a supply shortfall of more than 3 million barrels a day next quarter — potentially the biggest deficit in more than a decade — as Saudi Arabia extends its production cuts.
The latest data published by OPEC show why the kingdom’s supply squeeze, amid a period of record demand, has sent oil prices surging beyond $90 a barrel in London. Riyadh announced last week it will extend an extra 1 million-barrel-a-day output reduction until the end of the year, even though markets are already tightening.
World oil inventories, having depleted sharply this quarter, are set for an even steeper drop of roughly 3.3 million barrels a day in the next three months, forecasts published in a report from the Organization of Petroleum Exporting Countries indicated on Tuesday.
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Update: Oil sprints higher as OPEC report reveals Saudi Arabia cuts further (FXStreet)
WNU Editor: Pray for a warm winter.
7 comments:
In the USA the Farmers Almanac says get ready for a bad, bad winter. Meteorologists hat the FA cause it's generally a better forecast.
Stock up your dollars, Loonies, Pounds, and Euro's now.
Here's How Accurate the Farmer's Almanac Weather Predictions Really Are
https://www.yahoo.com/lifestyle/heres-accurate-farmers-almanac-weather-141650889.html
Probing Question: Is the Farmers' Almanac accurate?
https://www.psu.edu/news/research/story/probing-question-farmers-almanac-accurate/
Working at suncor base plant, times are starting to get good for miners and tradespeople again. Some projects just got dusted off and the labour shortage is horrendous for some reason.
I cant remember the last time the farmers almanac was right
The Russian Ministry of Defense said that it shot down seven of 10 cruise missiles that Ukraine fired at the facility in the city of Sevastopol. The area hosts naval operations key to Moscow’s war efforts in Ukraine
Ukraine Strikes Russian Naval Ships at Black Sea Facility
7:43.
Yes very good. Sevastopol has been the Base of the Russian, Soviet and now again Russian, Black Sea Fleet for over 150 years. It is one of the very few warm water ports that the russians have. That is why they took over Crimea. The Ukies were going to renege on the lease and give it to Nato to use.
No way the ruskies going to let that happen . it would be like the US giving up Guam or Pearl Harbor.
The slimy part of this is that both DoD and DoS and the BLOB knew this was an extremely epic provocation...and guess what...the USA pushed its Ukie minions to do it anyway.
I wonder why? Did they want to start a war?
What would the US do if Guam decided to lease its facilities to the Chinese?
Or even better, the lease for GITMO expired in 1999. Why has the US not given the base back to the Cubans in accordance with prior agreements and international law?
There is your "rules based order" working for you.
Rules based order....We make the rules, and change them when we want.
Everybody else??
They can suck pond water.
By the way, I agree with both the Russia actions and USA actions...why? Spheres of influence. Countries are going to look out for the security of their own borders and outlying territories. it is the smart thing to do.
But dont give me that goodie two shoe act about "rules based order".
Otherwise known as.....piss down a man's back and tell him it is raining.
oh yea one more thing. Like Mr Nobody said. It is the reason Russia needs to take the area in the Odessa region and link up with the Transniester.
Because if the Ukies retain that southern part of what is still part of the Ukraine, The Crimea will always be in jeopardy of attack and also subject to close hand surveillance.
Just saying... from a military stand point..... makes sence.
GITMO? Why give a base to an enemy nation? Cuba has engaged in hybrid warfare against the US.
I think Crimea should be part of Russia, but after this shit that fucking asshole Russians put us through, there should be a plebiscite or maybe we move all ethnic Russian to Kaliningrad Oblast.
Mr. Nobody is probably one of a dozen Russian sock puppets used at this site.
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