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Oil prices plunge after Opec meeting

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Oil prices plunge after Opec meeting

Postby Country » Thu Nov 27, 2014 8:43 pm

Even lower prices at the pump coming! :)

http://www.bbc.com/news/business-30223721
Humankind has not woven the web of life. We are but one thread within it. Whatever we do to the web, we do to ourselves. All things are bound together. All things connect. ~Chief Seattle, 1855
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Re: Oil prices plunge after Opec meeting

Postby TwoAndAHalfCents » Thu Nov 27, 2014 10:51 pm

Lower prices for a little while longer. How will this play out longer term? The cartel allows the lower oil prices for now to put pressure on the shale oil producers in the U.S. that they have been having to compete against. There may be some casualties along the way like Venezuela and Nigeria and even Iran. A little pain for Iran probably doesn't bother them one bit. Russia feels a little pain too with the lower oil prices but they're the bad guys these days so TPTB are okay with that too.
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