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Page added on September 20, 2018
Donald Trump tells Opec to lower oil price
Boom! The US president has demanded that the OPEC oil cartel take action to bring the oil price down.
Donald Trump has tweeted that Middle Eastern countries aren’t showing sufficient gratitude for America’s military support, by pushing crude prices to their current levels.
Donald J. Trump (@realDonaldTrump)
We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices! We will remember. The OPEC monopoly must get prices down now!
That’s a clear nudge to Opec members, such as Saudi Arabia, to agree a production boost when they meet this weekend.
Brent crude is currently trading near to $80 per barrel, close to its highest level since November 2014.
Oil prices have been climbing sharply since Opec agreed a historic deal to curb production in late 2016. That output freeze has helped to remove over-capacity from the market, meaning producers benefit from higher prices.
Opec members will meet with non-Opec countries, such as Russia, over the weekend to examine their production quotas.
Oil analysts believe they are unlikely to lift production limits, despite pressure from America.
Iran, for example, has indicated it is happy with oil at $80 per barrel, so would presumably oppose a production increase. Tehran also doesn’t enjoy military protection from the US, of course, so Trump’s threat may not carry much weight.
Iran’s oil production is likely to drop as US sanctions kick in.
That creates a new dilemma for Opec, as one source told Reuters:
“It’s complicated. Saudi Arabia has to balance oil supply and demand, and it has to balance oil prices so they don’t rise too much before the U.S. elections,.
“It’s also political because the Saudis don’t want to pump too much oil then the Iranians complain to OPEC that it (Saudi Arabia) is taking (Iran’s) market share. They also don’t want oil prices to fall too much.”
20 Comments on "Donald Trump tells Opec to lower oil price"
GetAVasectomyAndLetTheHumanSpecieDie on Thu, 20th Sep 2018 4:08 pm
I like watching the Western countries collapsing and people living withing these countries turning into mental case.
Some suggested search on YouTube:
Sweden is dead.
UK is gone,
Western civilization is dying.
California exodus,
White male guild
Few people understand that Western civilization was build on using heat energy contain in fossil fuel.
I love watching the desperation of stupid people all over the world. Especially the ones that believe that democracy is the best system. I love watch Leftist going crazy. I love watching women going crazy because young man have walk away because of exterm feminism
Great show to watch
rockman on Thu, 20th Sep 2018 4:12 pm
One has to wonder if the POTUS advisors made him aware that the ME countries account for less then half the oil exported. Or if they did was he paying attention?
“Middle Eastern countries accounted for the highest dollar value worth of crude oil exports during 2017 with shipments valued at $356.3 billion or 42.4% of globally exported crude oil. At the continent level, almost half comes from countries in Asia (49.4%). Europe supplies 18% of the overall total, followed by Africa at 13.4% and North America at 11.4%. Smaller percentages originate from Latin America excluding Mexico but including the Caribbean (6.9%), and Oceania led by Australia (0.6%).”
Sadly, I think we know the answer. Is he effectively also calling on Canada and Norway to also lower the price of their exported oil? Even more to the point: is he also calling on US refineries (largest the largest product exporter on the planet) to lower their prices? After all, the high price of our product exports also puts significant upward pressure on ALL oil prices. And what about US oil producers? Based on the latest numbers they represent the largest oil producers on the planet. The prices they require buyers to pay puts as much upward pressure on prices as the Saudi oil exports.
Of course, expecting such logical thoughts coming out of D.C. these days is probably our mistake. LOL.
GetAVasectomyAndLetTheHumanSpcecieDie on Thu, 20th Sep 2018 4:21 pm
I love watching Western countries going down the drain
SWEDISH Teacher R*ped by Student / JUNCKER’S Horrible State of the Union Address
https://www.youtube.com/watch?v=PEsC4wvl3yg
I love watching Women getting rape in Western countries because they deserve it. Women love immigration, I am sure the loving being raped by migrant
Cloggie on Thu, 20th Sep 2018 4:47 pm
Here Richard Spencer with antifa clown Mccauley:
https://youtu.be/2KUmqFjE1vc
Refuses to shake hands.
Later she runs off with Turk, gets raped and beaten up:
https://mobile.twitter.com/lacymacauley/status/859832946982834176?lang=en
https://www.thegatewaypundit.com/2017/05/antifa-chick-goes-turkey-muslim-loverboy-gets-raped-beaten/
twocats on Thu, 20th Sep 2018 5:28 pm
this article feels like it was written months ago. OPEC countries have decided they can pump more to take up the slack from venezuela and iran. individual country quotas are no longer in effect. obviously iran doesn’t like the sanctions, and neither do a lot of other countries.
SA is just now beginning to average what they did in 2016. Spare capacity doesn’t mean its sitting in a vault ready to go. It takes time to ramp up that capacity. Also – the latest inventory records show SA is WAAAY down on inventories – so they’ve achieved some of their latest production out of storage.
Ding-dong is talking about lowering prices when the world oil market is looking at a moderately significant shortfall in production vs consumption coming to a head in the first half of 2019.
MASTERMIND on Thu, 20th Sep 2018 5:46 pm
Tiger Mom helped groom female law clerks for Kavanaugh
https://amp.theguardian.com/us-news/2018/sep/20/brett-kavanaugh-supreme-court-yale-amy-chua?__twitter_impression=true
makati1 on Thu, 20th Sep 2018 6:04 pm
You are correct, GetAV. “Few people understand that Western civilization was built on using heat energy contain in fossil fuel.” First coal and then oil. And as the two fade into the sunset, so will “Western” civilization. There is no “alternate”. Not even close.
MASTERMIND on Thu, 20th Sep 2018 6:20 pm
Alex Jones Says He’s ‘Already Won’ And Is ‘Ready To Die’
http://www.rightwingwatch.org/post/alex-jones-says-hes-already-won-and-is-ready-to-die/
makati1 on Thu, 20th Sep 2018 6:37 pm
MM, you seem focused on the circus sideshow in DC instead of the real world you live in. That is the typical American obsession and why it is going down the drain.
“He said” …. “She said”. All deliberate distraction from the real event, the collapse of America. I hope you are enjoying it. The rest of the world is. The collapse, I mean.
Ghung on Thu, 20th Sep 2018 7:42 pm
Trump is so clueless, it may just work. The world gets funnier every day 😉
Danlxyz on Thu, 20th Sep 2018 8:55 pm
Well, if President Trump thinks those conniving nations are taking advantage of the fair trading USA, he should just put a 10% or 25% tariff on oil. That is the plan for China after all.
Since last week the US imported 8,024 BOPD and only exported 2,367 BOPD of crude. What more proof does anyone need that they are greedy predators.
Now this will be passed on to the consumers like all tariffs so there might be other consequences. If people believe you can do that to imports from China without any costs to US consumers, PTL.
You can fool some of the people all of the time. As long as that is enough to win elections, you will be home free.
Anonymouse1 on Thu, 20th Sep 2018 10:04 pm
Donald Trump tells Opec to lower oil price
Translation: Trump asks his former Sec of Snakes, Rexxon-Mobil, if they(and friends) would lower oil prices. Please and thanks. And if you wont, or wont, hugs and kisses all the same.
Love, The donald (president of team amerika).
deadly on Fri, 21st Sep 2018 2:24 am
Trump is going to tell OPEC to lower oil prices and they are. Yeah, right.
When Trump does his communicating it is like he is spray painting walls somewhere. A kid playing with play-doh. Philosophy class for Donald, play-doh is his teacher.
You will never have a happy segment of any populace as long as there are a few who absolutely hate a sitting president like Trump.
Obama has cost the world plenty too, but I don’t hate him, cost me some money too, but I can’t rail about the idiot for days on end, Obama is not a part of my problems nor is Trump, they might exacerbate a few things here and there about what I do to work through the dilemmas, but I don’t hate Obama and I can’t hate Donald Trump either. I gotta live and seething with anger is not part of the game plan. You can if you want to, that’s your bidness.
The looney left or whoever they are, looney anything, like climate alarmists who don’t know if they are afoot or horseback, witness the two ocean-going vessels that were trapped in Arctic waters because they believed they could make it through the Northwest Passage. Arctic ocean ice stopped them and an ice floe sank a sailboat. The climate change zealots become brainwashed, they think the Arctic is going to be free sailing. They’re goofy.
They will do things like hate Trump, Jerry Brown wants Trump removed from office.
It is the easiest thing to do, blame others for your own problems. If it isn’t your mom yelling at you from the kitchen down to the basement to take out the trash, then it’s the politician wanting more of your money, it’s someone’s fault except your own all of the time, doesn’t matter who it is. This time, Trump is the scapegoat, the shithead who makes all of your troubles seem insurmountable. Not because they are or not, hate makes your problems someone else’s and why should you solve them?
Because they are your problems, no one else’s so stop blaming others, especially Trump. Frickin’ grow up, make it a better world for yourself, Trump ain’t gonna, you know that, quitcherbeefin’ about it all.
It wasn’t until he became President did it matter.
Trump’s faults stack a mile high, he’s got a lot of them, you can blame him for everything there is wrong on the planet.
Curse your own darkness, but quit blaming Trump, your own fault if you don’t want to light a candle and finally see the light.
Especially Jerry Brown, go get a real job and give away all of your oil money you got from your daddy, grow up, you idiot.
Freaking world is out to lunch.
Survivalist on Fri, 21st Sep 2018 4:51 am
The face of America’s collective idiocy. The most accurate representation of the American people in the history of the presidency.
makati1 on Fri, 21st Sep 2018 5:04 am
Trump is taking the US into bankruptcy in so many ways. But then, he is an expert at bankruptcies. “Trump has filed Chapter 11 bankruptcy for his companies six times.”
https://www.thoughtco.com/donald-trump-business-bankruptcies-4152019
Will this be number seven? LOL
Joe on Fri, 21st Sep 2018 7:28 am
Obama doubled the US debt. He left Trump with a mess to fix
Anontarded1 on Fri, 21st Sep 2018 7:33 am
brother joe i’m glad you no longer tarded after i told you assad is a muslim and in muslim countries church stepples have to be lower than mosques by law. that is if they’re allowed to be built at all brother joe.
it hurst me when you tard. why do you take pleasure in hurting me brother joe. i love you i want you to untard yourself
btw i’m no longer fmr-paultard. i also used to be davy-fan and AFDF
Sissyfuss on Fri, 21st Sep 2018 9:00 am
So Trump thinks our wars in Iraq and Afghanistan were forms of military protection of them. Yeah, that sounds about right according to his take on reality.
Keith McClary on Fri, 21st Sep 2018 10:31 pm
Yeah, reduce the oil price so US can import more, increasing trade deficit and killing US oilfield jobs.
rockman on Sat, 22nd Sep 2018 10:21 am
Keith – Exactly. As I said above how does the POTUS respond to the KSA asking if he’ll force US oil producers (The United States is the top oil-producing country in the world, with an average of 14.86 million b/d, which accounts for 15.3% of the world’s production)to reduce their oil prices? Or should the US continue making the same profits the KSA and all other producers are being asked to give up? Similarly should US refineries (the largest supplier of global products) continue making the same profit margins?
I wish our MSM would point out this failure in logic. After all it rarely cuts the POTUS any slack. Perhaps too few in the MSM really understand the dynamics of global oil production. Just as the POTUS.