Wuhan virus 2020 - Page 183

Jimbuna · 04-12-20, 02:49 PM

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.

Catfish · 04-12-20, 02:51 PM

Quote:

Originally Posted by Jimbuna

Oil-producing countries have agreed to a deal to cut global production by almost 10% in response to the coronavirus pandemic. [...]

Does that make any sense?

Mr Quatro · 04-12-20, 02:53 PM

Quote:

Originally Posted by Catfish

Does that make any sense?

Not to me gas is $1.67 a gal now

Jimbuna · 04-12-20, 02:55 PM

Quote:

Originally Posted by Catfish

Does that make any sense?

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.

ET2SN · 04-12-20, 02:57 PM

Quote:

Originally Posted by Catfish

Does that make any sense?

Less demand for the foreseeable future.

Why refine crude into petroleum if no one's buying?

Catfish · 04-12-20, 02:59 PM

^ Economically of course it makes sense, to me it looks like raising the prices for bread when people need it most.

eddie · 04-12-20, 03:10 PM

Quote:

Originally Posted by Mr Quatro

Not to me gas is $1.67 a gal now

Nice to see gas prices low for the consumer, too bad we have no place to go right now.

Skybird · 04-12-20, 03:42 PM

Quote:

Originally Posted by Catfish

^ Economically of course it makes sense, to me it looks like raising the prices for bread when people need it most.

Bread is not made of oil.

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.

Mr Quatro · 04-12-20, 04:02 PM

Quote:

Originally Posted by eddie

Nice to see gas prices low for the consumer, too bad we have no place to go right now.

So true I've only gone forty (40) miles in the last four weeks

Catfish · 04-12-20, 04:03 PM

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.

Skybird · 04-12-20, 04:22 PM

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.

ET2SN · 04-12-20, 04:30 PM

Quote:

Originally Posted by Catfish

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.

You might be taking a few leaps there.

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.

Gorpet · 04-12-20, 06:19 PM

https://nypost.com/2020/03/21/nyc-he...irus-sex-memo/ Buy the way where the hell is our Congress Woman Ocassio Cortez.

Onkel Neal · 04-12-20, 06:26 PM

Quote:

Originally Posted by Jimbuna

Posted 02-02-2020, 06:54 AM

A man has died of the coronavirus in the Philippines, the first confirmed fatality outside China.

The patient was a 44-year-old Chinese man from Wuhan, in Hubei province, where the virus was first detected.

He appeared to have been infected before arriving in the Philippines, the World Health Organization (WHO) said.

https://www.bbc.co.uk/news/world-asia-51345855

Ah, remember the days of olde when the FIRST death outside of China was reported?

Mr Quatro · 04-12-20, 09:16 PM

Quote:

Originally Posted by Onkel Neal

Ah, remember the days of olde when the FIRST death outside of China was reported?

I remember when it was called the Wuhan virus before it had a name covid-19 and there were only five deaths in a retirement home in Kirkland, Washington
March 4th 2020th

Sure spread fast over 3,300 deaths in nursing homes across the nation

04-12-20, 02:49 PM	#2731
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 181,344 Downloads: 63 Uploads: 13	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. __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!! GWX3.0 Download Page - Donation/instant access to GWX (Help SubSim)

04-12-20, 02:59 PM	#2736
Catfish Dipped Squirrel Operative Join Date: Sep 2001 Location: ..where the ocean meets the sky Posts: 16,903 Downloads: 38 Uploads: 0	^ Economically of course it makes sense, to me it looks like raising the prices for bread when people need it most. __________________ >^..^<*)))>{ All generalizations are wrong.

04-12-20, 04:03 PM	#2740
Catfish Dipped Squirrel Operative Join Date: Sep 2001 Location: ..where the ocean meets the sky Posts: 16,903 Downloads: 38 Uploads: 0	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. __________________ >^..^<*)))>{ All generalizations are wrong.

04-12-20, 04:22 PM	#2741
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 40,622 Downloads: 9 Uploads: 0	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. __________________ If you feel nuts, consult an expert.

04-12-20, 06:19 PM	#2743
Gorpet Still Searching Join Date: Jun 2005 Location: A country in Evolution Posts: 769 Downloads: 364 Uploads: 0	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.