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04-12-20, 02:49 PM | #2731 |
Chief of the Boat
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Oil-producing countries have agreed to a deal to cut global production by almost 10% in response to the coronavirus pandemic.
The price of oil has slumped this year because of the crisis. The negotiations included the Organization of the Petroleum Exporting Countries (OPEC), Russia, the United States of America and Mexico. It amounts to a worldwide reduction of about 9.7 million oil barrels every day from 1 May. It could also mark the end of a price war between Saudi Arabia and Russia.
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04-12-20, 02:51 PM | #2732 |
Dipped Squirrel Operative
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Does that make any sense?
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04-12-20, 02:53 PM | #2733 |
Navy Seal
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04-12-20, 02:55 PM | #2734 |
Chief of the Boat
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I think the reasoning behind the move is there is a glut of supplies and a reduction in usage therefore the cut in price to maintain some fathom of cost effectiveness.
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04-12-20, 02:57 PM | #2735 |
Ocean Warrior
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04-12-20, 02:59 PM | #2736 |
Dipped Squirrel Operative
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^ Economically of course it makes sense, to me it looks like raising the prices for bread when people need it most.
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04-12-20, 03:10 PM | #2737 |
Ocean Warrior
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Nice to see gas prices low for the consumer, too bad we have no place to go right now.
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04-12-20, 03:42 PM | #2738 | |
Soaring
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Quote:
Private traffic and truck traffic are down. Overproduction had triggered a oil price war between Russia and China and US fracking companies even already before Corona. If supply is higher than demand, you cut it back. Logical. Deamnd and supply, we stick to it as long as we have nothign better. State planned economy goals? No thanks. We just have seen once again how well state plans work - with masks. If you think this oil price thing is a biggie, wait until it dawns upon you and most others what it really means that the central banks devalueing further the "money" by several further trillions, and the ECB and the European South again try to enforce the collectivization of national debts. Big things are about to happen due to this. Unfortunately at 180° the wrong direction.
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04-12-20, 04:02 PM | #2739 |
Navy Seal
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So true I've only gone forty (40) miles in the last four weeks
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pla•teau noun a relatively stable level, period, or condition a level of attainment or achievement Lord help me get to the next plateau .. |
04-12-20, 04:03 PM | #2740 |
Dipped Squirrel Operative
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Then it is good that food etc. is not brought into the cities by trucks that depend on oild and gas, belonging to companies that do not make much money right now.
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04-12-20, 04:22 PM | #2741 |
Soaring
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In Europe and especially Germany, over 50%, on some days up to 70% of all truck rides/times on duty are currently empty drives. The drivers desperately search for cargo , must accept prices of just 25% and even less of what the customer usually must pay. Foreign drivers from outside Germany currently can masisvely abus elegal obligations and have more drives before they must leave the coutnry again, than usual (three transports in a row, then they must leave Germany, usually). This pushes prices down even further.
Your bread gets moved around and into your city, dont worry. So does your flour to bake it. Trust it. They currently can cut your bread into three pieces and have it shipped to you in three trucks. Transport capacity en masse is free currently.
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04-12-20, 04:30 PM | #2742 | |
Ocean Warrior
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Quote:
Gasoline prices are low due to low demand from regular traffic. Diesel prices were going low due to the oil war between OPEC and Russia when all of this started. Shipping companies (in the US) are working overtime right now and hiring drivers. The "hours available" rules for US truck drivers have been put on hold so the essentials (food) can be shipped. In the big picture, shipping companies will be making some big money for the duration of the emergency. What skews the picture is that many/most of us are camped out on our sofas. |
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04-12-20, 06:19 PM | #2743 |
Still Searching
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Covid 19 and Sex in America We are all way's Number 1
https://nypost.com/2020/03/21/nyc-he...irus-sex-memo/ Buy the way where the hell is our Congress Woman Ocassio Cortez.
Last edited by Gorpet; 04-12-20 at 06:32 PM. |
04-12-20, 06:26 PM | #2744 | |
Born to Run Silent
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04-12-20, 09:16 PM | #2745 | |
Navy Seal
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March 4th 2020th Sure spread fast over 3,300 deaths in nursing homes across the nation
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pla•teau noun a relatively stable level, period, or condition a level of attainment or achievement Lord help me get to the next plateau .. |
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apocalypse, china, coronavirus, covid-19, flu, masks, plague, preppers, virus, vitamine d, wuhan |
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