OPEC+ Is Cutting Oil Production Again - Dr. Rich Swier
OPEC+ announced a new round of cuts to oil production on Thursday, The Wall Street Journal reported. The oil cartel, which is responsible for about 40% of the world’s oil production, said that it would reduce production by an additional 1 million barrels per day, equivalent to about 1%of total globa..
https://drrichswier.com/2023/12/02/opec-is-cutting-oil-production-again/The difference today, and what makes such predictions so dangerous, is that they are often accompanied by calls to stop investing in new oil and gas projects.
“Such narratives only set the global energy system up to fail spectacularly. It would lead to energy chaos on a potentially unprecedented scale, with dire consequences for economies and billions of people across the world,” says OPEC Secretary General, HE Haitham Al Ghais.
This thinking on fossil fuels is ideologically driven, rather than fact-based.
https://www.opec.org/opec_...
https://www.cnbc.com/2023/...
https://www.reuters.com/bu...
READ: https://breakingheadlines....
Saudi Arabia to Cut Oil Production by 1 Million Barrels per Day to Boost Prices
OPEC countries and their partners, known as OPEC+, showed their commitment to higher oil prices at their meeting ...
https://breakingheadlines.news/9a1sqDREAD: https://1.breakingheadline...
Biden Administration Downplays Effect of Surprise OPEC+ Production Cuts
The Biden administration downplayed the effect of the surprise decision by OPEC+ to continue production cuts, insisting that ...
https://1.breakingheadlines.news/8WkHj3100+ countries have agreed to simultaneously dump US debt, collapse the US Dollar and cause nations with a USD peg to hyper-inflate.
Add to this, the immediate reduction of oil being produced by OPEC which was announced yesterday.
Here: https://t.me/westcoast_int...
and here: https://t.me/westcoast_int...
Biden doubles down on green energy as OPEC cuts production, prices soar
The White House issued a joint statement with the European Union, reaffirming its commitment to the "energy transition" even as global oil prices surged.
https://www.foxnews.com/politics/biden-doubles-down-green-energy-opec-cuts-production-prices-soarAccording to people familiar with Saudi Arabia’s thinking, Riyadh was irritated last week that the Biden admin publicly ruled out new crude purchases to replenish the strategic stockpile that Biden drained last year. ...Apparently, that was the straw that broke the OPEC's back.
Energy secretary Jennifer Granholm’s statement that it could take “years” to refill the reserve sent oil prices briefly lower. The White House had previously offered reassurance to Saudi Arabia that it would step in to make purchases for its strategic reserve if prices fell. Of course, Biden always has 'the smartest guy he knows' to rely on energy policy... ?
Brent futures are expected to rise this evening in response to today's news. Prices have been range bound between $86-$73 a barrel for much of 2023. Now cue the "disappointment" press release from The White House.
https://www.zerohedge.com/...
Contrary to previous American requests, the leading members in the OPEC Plus organization announced today that starting this May and until the end of 2023, they will reduce oil production by approximately 1.5 million barrels of oil per day in aggregate, in order to "stabilize the global fuel market".
Details of the reduction in yields:
Saudi Arabia - will reduce by 500 thousand barrels per day.
Russia will reduce by 500 thousand barrels per day.
The United Arab Emirates will reduce by 144 thousand barrels per day.
Kuwait will reduce by 128 thousand barrels per day.
Iraq will reduce by 211 thousand barrels per day.
Algeria will decrease by 48 thousand barrels per day
Oman will reduce by 40 thousand barrels per day
The reduction in output comes in addition to the reduction announced last November.
These moves will lead to an increase in oil prices in the world.
The two ministers affirm their countries' commitment to the OPEC+ decision to reduce oil production by two million barrels per day until the end of 2023.
Impending Iran threat tests US-Saudi relationship after OPEC decision
President Biden threatened Saudi Arabia with 'consequences' for the OPEC cut in oil production, but the two countries are now cooperating in the face of an Iranian threat.
https://www.foxnews.com/politics/impending-iran-threat-tests-us-saudi-relationship-opec-decisionDems panic, vow to punish Saudi Arabia after OPEC oil cut
President Joe Biden and Democrat lawmakers are threatening to take action against Saudi Arabia after the Organization of the Petroleum Exporting Countries (OPEC ) cut oil production by two million barrels per day.
https://www.oann.com/newsroom/dems-panic-vow-to-punish-saudi-arabia-after-opec-oil-cut/?utm_source=rssDem lawmakers push for pause on Saudi arms sales after OPEC oil cut, say Riyadh made 'humongous blunder'
Democrats Sen. Richard Blumenthal and Rep. Ro Khanna are calling for a temporary halt on U.S. arms sales to Saudia Arabia after the OPEC decision to cut oil production.
https://www.foxnews.com/politics/dem-lawmakers-push-pause-saudi-arms-sales-opec-oil-cut-say-riyadh-made-humongous-blunderWhite House says Biden believes Saudi Arabia has sided with Russia after OPEC cut
President Biden believes that Saudi Arabia has sided with Russia's war aims i Ukraine following OPEC 's decision to cut its oil production, the White House said Tuesday.
https://www.foxnews.com/politics/white-house-says-biden-believes-saudi-arabia-sided-russia-opec-cutSen. Bob Menendez calls for end all cooperation with Saudi Arabia over OPEC oil cut
Senate Foreign Relations Committee Chairman Sen. Bob Menendez is urging the Biden Administration to cease cooperation with Saudi Arabia after OPEC moved to cut oil production.
https://www.foxnews.com/politics/bob-menendez-saudi-arabia-opec-oil-cutOPEC+ agreed Wednesday to cut output by 2 million barrels per day.
https://www.rt.com/news/56...
US lawmakers want to punish Saudi Arabia and UAE — RT World News
A group of US legislators proposed depriving Saudi Arabia and the UAE of military aid in response to an oil production cut
https://www.rt.com/news/564336-us-punish-saudi-uae/Nikki Haley: OPEC wanted to 'stick it to Biden' after Saudi remarks, Iran deal efforts
Nikki Haley, former U.S. Ambassador to the UN, suggested that OPEC may have decided to cut oil production in response to President Biden's words and actions.
https://www.foxnews.com/politics/nikki-haley-opec-wanted-stick-biden-saudi-remarks-iran-deal-efforts'Seems Like Just Yesterday': US Oil Industry Mocks Biden After OPEC Announces Production Cuts
The members of OPEC+ have made the decision to cut supply when the world needs it the most. They're delighted with oil at $90 per barrel.
https://www.westernjournal.com/seems-like-just-yesterday-us-oil-industry-mocks-biden-opec-announces-production-cuts/?utm_source=Email&utm_medium=rightalerts&utm_campaign=dailyam&utm_content=ttp&ats_es=a44499479130625d59d5b4ac433ef4c7House Dems introducing GOP-inspired bill to strip defenses from Saudi Arabia, UAE following OPEC oil cut
House Democrats are pushing a bill to remove U.S. defenses from Saudi Arabia and the United Arab Emirates after OPEC decided to cut oil production by 2 million barrels a day.
https://www.foxnews.com/politics/house-dems-introducing-gop-inspired-bill-strip-defenses-saudi-arabia-uae-following-opec-oil-cutBiden Made Secret Offer to Buy Tons of OPEC Oil at $80 a Barrel in Exchange for Not Cutting Production – Got Rebuffed
Biden Made Secret Offer to Buy Tons of OPEC Oil at $80 a Barrel in Exchange for Not Cutting Production – Got Rebuffed
https://www.infowars.com/posts/biden-made-secret-offer-to-buy-tons-of-opec-oil-at-80-a-barrel-in-exchange-for-not-cutting-production-got-rebuffedhttps://postmillennialnews...
BREAKING: Biden to continue depleting US oil reserves as OPEC slashes production | The Post Millennial | thepostmillennial.com
Biden said that more oil would be released from the Strategic Petroleum Reserve “as appropriate to protect American consumers and promote energy security.”
https://postmillennialnews.com/vZF1QPWhite House Claims ‘OPEC Is Aligning With Russia’ By Cutting Oil Production
Increasingly deranged Biden cannot take responsibility for his disastrous energy policies
https://www.infowars.com/posts/white-house-claims-opec-is-aligning-with-russia-by-cutting-oil-productionhttps://www.infowars.com/p...
White House Claims ‘OPEC+ Is Aligning With Russia’ By Cutting Oil Production
Increasingly deranged Biden cannot take responsibility for his disastrous energy policies
https://www.infowars.com/posts/white-house-claims-opec-is-aligning-with-russia-by-cutting-oil-production/https://www.dailymail.co.u...
More alarm bells for Biden as OPEC cuts oil production by 2 MILLION barrels a day | Daily Mail Online
OPEC's decision after their Wednesday meeting could force prices at the pump back up after the White House celebrated them falling at a record pace this summer.
https://www.dailymail.co.uk/news/article-11283503/Biden-OPEC-oil-production-gas-prices.htmlOPEC+ issues massive cuts to oil production despite complaints from Biden administration - Rebel News
The cuts could reverse the recovery of oil prices which have dropped to around $90 from $120 three months ago.
https://www.rebelnews.com/opec_issues_massive_cuts_to_oil_production_despite_complaints_from_biden_administrationGas Prices Climbing Again As OPEC Cuts Output
Biden flipping out because economy may implode right before midterms
https://www.infowars.com/posts/gas-prices-climbing-again-as-opec-cuts-outputOil Surges After Russia Proposes 1 Million Barrel OPEC Output Cut
Experts warn of energy crisis
https://www.infowars.com/posts/oil-surges-after-russia-proposes-1-million-barrel-opec-output-cutHunter is still business partners w/ the CCP & they are buying our oil.
Can we impeach Joe Biden now???
https://thefederalist.com/...
Joe Biden Sold Reserve Oil To Chinese Gas Giant Tied To Hunter Biden
President Joe Biden sold oil from the nation's emergency petroleum reserves to a Chinese gas giant invested in by his scandal-ridden son.
https://thefederalist.com/2022/07/08/biden-sold-oil-from-emergency-reserves-to-chinese-gas-giant-tied-to-his-scandal-plagued-son/