OPEC Cuts / Prices Jump - Time To Start The Fracking Again

[easyt65]

"OPEC will reduce production by 1.2 million barrels a day to 32.5 million a day, two delegates said Wednesday during a ministerial meeting in Vienna, asking not to be identified as the decision isn’t yet public. Benchmark Brent crude rose 8 percent to $50.07 a barrel in London at 1:37 p.m. local time."

"“This should be a wake-up call for skeptics who have argued the death of OPEC,” said Amrita Sen, chief oil analyst at Energy Aspects Ltd. “The group wants to push inventories down.”




OPEC seeks to control and manipulate the world oil market to ensure their continued wealth, control, and power.



Time to start the Fracking back up....




OPEC Cut Output in Bid to End Record Glut

 

[martybegan]

"OPEC will reduce production by 1.2 million barrels a day to 32.5 million a day, two delegates said Wednesday during a ministerial meeting in Vienna, asking not to be identified as the decision isn’t yet public. Benchmark Brent crude rose 8 percent to $50.07 a barrel in London at 1:37 p.m. local time."

"“This should be a wake-up call for skeptics who have argued the death of OPEC,” said Amrita Sen, chief oil analyst at Energy Aspects Ltd. “The group wants to push inventories down.”




OPEC seeks to control and manipulate the world oil market to ensure their continued wealth, control, and power.



Time to start the Fracking back up....




OPEC Cut Output in Bid to End Record Glut

Each $10 increase in Crude allows more and more fracking sites to produce at a profit. Any increase due to their production cut would be countered by increased US production.

 

[ZZ PUPPS]

"OPEC will reduce production by 1.2 million barrels a day to 32.5 million a day, two delegates said Wednesday during a ministerial meeting in Vienna, asking not to be identified as the decision isn’t yet public. Benchmark Brent crude rose 8 percent to $50.07 a barrel in London at 1:37 p.m. local time."

"“This should be a wake-up call for skeptics who have argued the death of OPEC,” said Amrita Sen, chief oil analyst at Energy Aspects Ltd. “The group wants to push inventories down.”




OPEC seeks to control and manipulate the world oil market to ensure their continued wealth, control, and power.



Time to start the Fracking back up....




OPEC Cut Output in Bid to End Record Glut

Each $10 increase in Crude allows more and more fracking sites to produce at a profit. Any increase due to their production cut would be countered by increased US production.

Exactly. It all depends on a given well's lift cost. US production is the swing producer in the equation now. As such, our production will fluctuate based upon oil prices.

 

[saveliberty]

All of a sudden that Dakota pipeline looks pretty important.

 

[deltex1]

I want to see a North American combo that works in our interests...provides total self sufficiency...lets us set our own production levels...at a price best for us. You can't trust OPEC to be fair...or manageable. They're Muslims.

 

[SassyIrishLass]

All of a sudden that Dakota pipeline looks pretty important.

As is Keystone