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(Reuters)   Oil's over covid even if humanity's not   (reuters.com) divider line
    More: Followup, Petroleum, Brent Crude, Oil prices, Benchmark, Goldman Sachs, OPEC, UBS oil analyst Giovanni Staunovo, Brent crude futures  
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448 clicks; posted to Business » on 05 Mar 2021 at 9:28 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



9 Comments     (+0 »)
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2021-03-05 9:54:50 AM  
I'm investing in "Thanks, Biden" Facebook memes.
 
2021-03-05 10:07:18 AM  
Well, the price is up, but only because OPEC maintained the productions cuts which was not really expected. Demand is still down. If the price stays up, fracking fields will be starting back up and there will be a glut again.
 
2021-03-05 11:10:06 AM  

Rapmaster2000: I'm investing in "Thanks, Biden" Facebook memes.


Seriously. I can't wait to see a bunch of "tRumP kePt GaS pRiCeS LOw!" horseshiat posts on social media from my dumbass white trash relatives and hear it in public from 'roided up ignoramuses.
 
2021-03-05 11:27:45 AM  
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2021-03-05 11:37:02 AM  
Great strategy. Push gas above $4 when so many people aren't working and many more have little reason to leave the house.
 
2021-03-05 11:37:18 AM  
Retail gas is up about 27% since the first of the year around here and we're lagging the country, I think.

I can attest that exactly zero gas stations have closed and AFAIK, no oil companies have gone bankrupt.
 
2021-03-05 12:02:34 PM  
Thank God for that announcement, oil is the only thing keeping me from going into the red as everybody's selling off tech and travel.
 
2021-03-05 2:42:46 PM  
Last paragraph of the article covers reality.  "Oh, So the Saudi's want more for the oil... guess it's time to fire up the drillin' rigs and remind them it's not an option for them by taking another percentage point of the marketplace."
 
2021-03-05 7:56:18 PM  
The minute I promised myself I'd give the next yokel who remarked "Gas prices up, thanks, Sleepy Joe" the whatfore it was a Sheriffs Deputy, so I let it slide.

I'm sure I'll get my chance tomorrow.
 
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