OPEC gets me really mad. These bastards know we are trying to mend the international economy and they cut production. It really appears they don't want or won't help US economy to strengthen. And to think politicians are throwing billions at these arab countries " to rebuild" , they should thow them something else. These pricks could really stall and weaken international stock markets.
OPEC really pisses me off !!!
- Thread starter taodr
- Start date
It could also be in response to the US wanting to weaken the dollar. Weaker dollar, oil is always paid for in dollars, $30 per barrel (whatever it is), needs to go up to compensate as dollars are now not worth as much. After all their just looking after their own intrest, just like everyone else.
I don't think it's OPEC intent to stall any stock markets or economies. If fact, for OPEC it is much much better for them to have thriving economies that increase the demand for their products. Remember that post 9/11 oil prices ended up declining due to the lack of demand (largely from the gas guzzling airline cutbacks and a stalling/tanking overall US economy) and I do think that OPEC was somewhat surpised by that move lower in prices. And while I don't have dates to reference, seems like the lower oil prices went, the more cooperation we got from the Arabs in the pursuit of the al qaeda & taliban bastards. Like they finally figured it out that although they may despise us, and we may rely on them, we (US) are still their biggest customer, and if the customer can't buy or doesn't need to buy as much of your product--you ain't making as much $$$$. Just my thoughts, probably wrong, but thought I would throw it out there.
Vega
That you would blame OPEC for your money-losing trades....
Yep, but the cut is for a prolonged period, whatever that period is, so 1 day in the market is not really signifcant compared to the time span they will be looking at, the USD is set for alot more weakness over the coming weeks regardless of today, tomorrow, this week. Again though I was just throwing in a suggestion, not saying that was a defacto reason for it.
simple question to ask who benefits from higher oil prices?
ask the house of saud, who's your daddy?
elementary my dear watson, elementary