OPEC+ surprise cut

[Klaus]

Party on.

OPEC+ announces surprise oil output cuts

Oil prices last month fell towards $70 a barrel on concern that the global banking crisis would hit demand. Still, further action by OPEC+ to support the market was not expected as crude recovered toward $80.

www.reuters.com

 

[03cobra#694]

Great...I'm retiring in the next few months so I don't need to deal with this crap at work anymore.
Hey Klause, any thoughts on throwing $250K into the S&P 500 Spy deal?

 

[BlckBox04]

Yay

 

[Morgan]

Just in time for Summer road trips.

 

[MG0h3]

Lol. Love it


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[Klaus]

can't make this shit up. I am massive in energy right now so leeetsss goooooooo

 

[Klaus]

Great...I'm retiring in the next few months so I don't need to deal with this crap at work anymore.
Hey Klause, any thoughts on throwing $250K into the S&P 500 Spy deal?

what is your time horizon and what does the rest of your portfolio look like?

personally I like bonds and gold right now.

 

[03cobra#694]

what is your time horizon and what does the rest of your portfolio look like?

personally I like bonds and gold right now.

My main deal is bonds. I have about 7 digits spread out between 401's, banks and stuff. My middle kid is a wheel at Fischer. I just hate having to stroke a $500K to them to play.

 

[HEMIHUNTER]

If only we had oil in this country that we could use.


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[Deceptive]

Voting has consequences


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[1 Alibi 2]

We would be lucky if this administration is even paying attention !!
.

 

[supercharged91m]

what is your time horizon and what does the rest of your portfolio look like?

personally I like bonds and gold right now.

I also like gold and silver right now a little bit more then bonds just my preference

 

[Klaus]

This is how dumb the Biden admin is.

He runs on turning Saudi into a pariah state after the koshiggi murder. He used these exact words in the debates.

This weaponized OPEC production quotas. He effectively declared war on Saudi which runs OPEC. They clapped back.

He then went totally nuts over Russia Ukraine. No end in sight. Russia is the 2nd largest oil producer. They are still selling oil through intermediaries, it just costs more.

They are also the + in OPEC+. Shit for brains does not understand what a "cartel" is.

He then goes to war with domestic producers. Simultaneously disallowing permits to drill while attempting to demonize producers for not drilling.

In the meantime he has drawn down the SPR for political purposes. The SPR is mostly symbolic but still.

He had the opportunity to fill the SPR at 70 and passed. Schmuck.

This incensed OPEC so they cut production as a big fat middle finger. They ****ing hate biden for his pariah comments. Hate hate hate.

Guess what? Production cuts are inflationary. Massively so. Another way to think about OPEC is as a central bank. And they have as much influence as the fed does.

So you have banks blowing up in America and europe because of rate hikes. The fed had an excuse to pause because inflation is cooling.

Now they don't have the excuse anymore.

Inflation just got a second wind.

So biden the ****ing retard just kicked our banking system in the nuts because he such a moron that he can't fill the SPR at 70.

Un. ****ing. believable.

 

[Rb0891]

This is how dumb the Biden admin is.

He runs on turning Saudi into a pariah state after the koshiggi murder. He used these exact words in the debates.

This weaponized OPEC production quotas. He effectively declared war on Saudi which runs OPEC. They clapped back.

He then went totally nuts over Russia Ukraine. No end in sight. Russia is the 2nd largest oil producer. They are still selling oil through intermediaries, it just costs more.

They are also the + in OPEC+. Shit for brains does not understand what a "cartel" is.

He then goes to war with domestic producers. Simultaneously disallowing permits to drill while attempting to demonize producers for not drilling.

In the meantime he has drawn down the SPR for political purposes. The SPR is mostly symbolic but still.

He had the opportunity to fill the SPR at 70 and passed. Schmuck.

This incensed OPEC so they cut production as a big fat middle finger. They ****ing hate biden for his pariah comments. Hate hate hate.

Guess what? Production cuts are inflationary. Massively so. Another way to think about OPEC is as a central bank. And they have as much influence as the fed does.

So you have banks blowing up in America and europe because of rate hikes. The fed had an excuse to pause because inflation is cooling.

Now they don't have the excuse anymore.

Inflation just got a second wind.

So biden the ****ing retard just kicked our banking system in the nuts because he such a moron that he can't fill the SPR at 70.

Un. ****ing. believable.

If only 30% of americans understood this...

 

[black4vcobra]

This is how dumb the Biden admin is.

He runs on turning Saudi into a pariah state after the koshiggi murder. He used these exact words in the debates.

This weaponized OPEC production quotas. He effectively declared war on Saudi which runs OPEC. They clapped back.

He then went totally nuts over Russia Ukraine. No end in sight. Russia is the 2nd largest oil producer. They are still selling oil through intermediaries, it just costs more.

They are also the + in OPEC+. Shit for brains does not understand what a "cartel" is.

He then goes to war with domestic producers. Simultaneously disallowing permits to drill while attempting to demonize producers for not drilling.

In the meantime he has drawn down the SPR for political purposes. The SPR is mostly symbolic but still.

He had the opportunity to fill the SPR at 70 and passed. Schmuck.

This incensed OPEC so they cut production as a big fat middle finger. They ****ing hate biden for his pariah comments. Hate hate hate.

Guess what? Production cuts are inflationary. Massively so. Another way to think about OPEC is as a central bank. And they have as much influence as the fed does.

So you have banks blowing up in America and europe because of rate hikes. The fed had an excuse to pause because inflation is cooling.

Now they don't have the excuse anymore.

Inflation just got a second wind.

So biden the ****ing retard just kicked our banking system in the nuts because he such a moron that he can't fill the SPR at 70.

Un. ****ing. believable.

Excellent summary of how retarded this administration is on oil alone.

All of us here know it but consider his stances on spending ALL of the money, trans BS, abortion, green energy, gun rights, southern border, etc and it's just an unbelievable shitshow. I just saw his approval rating is 38% which is shocking as I can't imagine anyone but the biggest freakshow lib could even say he's doing a good job.

Of course between blacks and hispanics, they make up 31% of the country and they support dems 99% of the time for blacks and probably 75% of the time for hispanics.

 

[DriftwoodSVT]

I've seen fuel prices creeping up around here already, back to $3.29 / gallon for 87 octane.

 

[13COBRA]

Yep.

I stopped watching gas prices a year ago. I'm going to use the same regardless and it was just depressing.

 

[DSG2003Mach1]

diesel on the way back up. Grabbing another tanker a few days earlier than usual.. at 7k gallons it adds up

 

[Klaus]

diesel on the way back up. Grabbing another tanker a few days earlier than usual.. at 7k gallons it adds up

Brutal. You guys cant catch a break. Yay Brandon.

 

[Klaus]

I have been long oil for sometime and it has been a killer trade. I do not expect this to change anytime soon.