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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWell, so much for that cut in production by Russia and Saudi Arabia to raise oil prices...
https://finance.yahoo.com/news/opec-agrees-deep-oil-output-151440841.htmlSaudi-Russia Oil Deal Under Threat as Mexico Walks Out of OPEC+ Talks
Bloomberg
Javier Blas, Salma El Wardany and Grant Smith
BloombergApril 9, 2020
(Bloomberg) -- An agreement between Saudi Arabia and Russia for record oil-production cuts was endangered late on Thursday as Mexico refused to participate in the curbs and left the meeting without approving the deal.
The impasse, which came after more than 9 hours of talks via video link, cast doubt over a global effort to revive the oil market from a debilitating coronavirus-induced slump. The OPEC+ group wont cut output without Mexicos participation and doesnt intend to meet again on Friday, instead focusing on talks at the G-20 gathering also scheduled that day, according to a delegate.
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IMPOTUS probably shouldn't have pissed of Mexico.
dweller
(23,561 posts)✌🏼
TheBlackAdder
(28,073 posts)sheshe2
(83,335 posts)And it came tumbling down on Saudi, Putin and Trump.
Go Mexico.
Under The Radar
(3,401 posts)$1.69 was the lowest that I saw.
SKKY
(11,771 posts)...price. They were doing some promotion. I don't think gas has legitimately gotten that low.
ProfessorGAC
(64,417 posts)That was with the Circle K saver card. So, posted price was 6¢ higher.
Not close to 99 cents.
Besides, they're going to slow production no matter what.
Global daily demand is down >30 million barrels a day. Global demand (daily smoothed average) is a bit under 100 million barrels.
They're running out of storage space.
This has been going on for more than a month. They've nearly produced a billion barrels nobody needs right now.
Chainfire
(17,305 posts)I have paid as little as 19.9 for gas. That was in about '71.
KewlKat
(5,624 posts)I was on vacation. Returning home it was 35.9 in IL.
Maeve
(42,224 posts)And I had a credit on my Kroger card bringing it down to $1.14 a gallon, so woo-hoo ...not that I'm driving near as much...