GM Volt Forum banner

1 - 3 of 3 Posts

·
Registered
Joined
·
5,410 Posts
Discussion Starter #1
• OPEC members will continue to pump out as much crude as they like as ministers meeting in Vienna can't agree on a supply accord.
• The news shouldn't be too surprising given Iran's unwillingness to engage. Output targets are routinely ignored by OPEC members anyway, so any agreement would have been a mostly token one.
• WTI crude is*down 1.35%*to $48.35 per barrel.
 

·
Registered
Joined
·
902 Posts
World-wide demand remains steady. Population continues to grow. Poor people are rising out of poverty to demand more gas-guzzlers. Humanity will likely kill itself off with fossil fuels.
 

·
Registered
Joined
·
6,464 Posts
Saudi Arabia indicated that they will not over produce and flood the market, so it is really up to how much production Iran attempts. My understanding is that Iran wants to return to the OPEC quota system, which would allow Iran to pump 4.7 million bpd (an increase from the 3.8 million bpd they are currently producing).
 
1 - 3 of 3 Posts
Top