Oil Rockets 8% After OPEC+ Jolts Market with Surprise Output Cut

bloomberg.com

23 points·mfiguiere··17 comments

Also it rained today.

OPEC gonna OPEC.

Is there any analysis/record of why they made the decision? Or is that kept secret?

They like money.

They like a strong “alternatives to OPEC oil” industry.

The Saudi's want to help prop up Russia indirectly. Also everyone likes more money.

> The Saudi's want to help prop up Russia indirectly.

Source?

This should catch you up from the last time they reduced production: https://thehill.com/policy/energy-environment/3675262-democr...

Realized that the only way to reduce fossil fuel use is to increase its price?

"OPEC's objective is to stabilize the oil price rather than countering fundamental shifts in demand and supply."

Well obviously, we're just not kissing the petro-mafia's ass well enough!

As an EV owner, good. I know it’ll make other stuff I buy more expensive, but enough is enough.

I also don't care about poor people.

Hello brother! What until you see what happens to the actual poor (those that can’t even afford a car) as a result of climate change!

They get to die in the mines trying to extract all the resources I need to build batteries?

The poor need jobs. Let them eat lithium hydroxide.