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magicarpet

(18,464 posts)

12. Even if we get zero oil from Russia.

Reply to Rebl2 (Reply #7)

Thu Sep 7, 2023, 10:23 PM

Sep 2023

If Russia cuts daily production of oil pumped from the ground the total world supply of available oil for sale drops. Consequently the price of oil on the total world market increases.

If a limit is placed on the available supply,.. prices will then correspondently increase. The economic principle of Supply and Demand.

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Was just driving home after an evening out [View all] MN2theMax Sep 2023 OP

Price here went DOWN a few cents, this past week. elleng Sep 2023 #1

Putin & MBS are cutting poduction Maeve Sep 2023 #2

Maybe it's the Saudis trying to get Jarod back in the White House? dem4decades Sep 2023 #3

Russia and the Saudis are cutting production to create a shortage and drive the price per gallon up. magicarpet Sep 2023 #4

Sucks to be their hostage MN2theMax Sep 2023 #6

Do we get oil Rebl2 Sep 2023 #7

Even if we get zero oil from Russia. magicarpet Sep 2023 #12

I know Rebl2 Sep 2023 #5

That was the shocking thing MN2theMax Sep 2023 #9

Yea Rebl2 Sep 2023 #10

I live in Ohio KentuckyWoman Sep 2023 #8

Might be a temporary regional thing. But Saudis are extending cut back in production. Silent Type Sep 2023 #11

Ours went up on Tuesday. 2naSalit Sep 2023 #13

national average been trending down for some time per AAA avgs Recycle_Guru Sep 2023 #14