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Wed Jul 11, 2018, 12:07 PM

OPEC's oil output jumps in June as Saudi Arabia opens the taps to tame crude prices

Saudi Arabia hiked its oil output in June to the highest level since the end of 2016, as it aims to cool the market after crude prices recently rose to 3½-year highs.

The jump in Saudi supplies shows the world's top crude exporter is making good on its recent vows to tame oil prices. The kingdom has faced pressure from big crude importers like China and India, as well as President Donald Trump, who worry about negative economic impacts from rising fuel costs.

The increase also comes as OPEC forecast global oil demand will surpass 100 million barrels per day (bpd) next year.

https://www.cnbc.com/2018/07/11/opecs-oil-output-jumps-in-june-as-saudi-arabia-opens-the-taps.html

Didn't President Trump say this was to be the case, a few days ago?...

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Reply OPEC's oil output jumps in June as Saudi Arabia opens the taps to tame crude prices (Original post)
Gamle-ged Jul 11 OP
Dumper Jul 11 #1
joefriday6 Jul 11 #2

Response to Gamle-ged (Original post)

Wed Jul 11, 2018, 12:11 PM

1. Looks like Trump was given good info.

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Response to Gamle-ged (Original post)

Wed Jul 11, 2018, 12:18 PM

2. Yes, but sooooo...He has OPEC pushing back,China pushing back on trade, the bitch from NY pushing

back on everything, and, finally, Mexico staging riots. Yes, I know Trump is superhuman, but in every war there are black swans where the ostensible loser starts winning at just the right time, which right now begins in about 20 days. If Trump doesn't back off at least one of his MAGA's turning into Magoos, he will lose at least the House no matter how many million posts are made here. He's losing women fast: that will turn into some men if the women keep going right to sleep when they get into bed.

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