OPEC+ to consider oil cut of over than 1 million barrels per day

[RandySF]

DUBAI, Oct 2 (Reuters) - OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) next week, OPEC sources said on Sunday, in what would be the biggest move yet since the COVID-19 pandemic to address oil market weakness.

The meeting will take place on Oct. 5 against the backdrop of falling oil prices and months of severe market volatility which prompted top OPEC+ producer, Saudi Arabia, to say the group could cut production.




https://www.reuters.com/business/energy/opec-consider-oil-output-cut-over-1-mln-bpd-sources-2022-10-02/

[onecaliberal]

1. So oil is plummeting but California is paying 6 fucking dollars a gallon.

I wish karma would get these people already.

[AZSkiffyGeek]

2. I think there is something else going on in the SW

Gas is up a buck in Phoenix as well. But it sounds like much of the rest of the country is still down. I wonder if there is a refinery issue affecting just the SW - that happened often pre Covid.

[RandySF]

4. Isn't there a refinery problem in Ca?

[onecaliberal]

5. No. Supposedly maintenance at one plant.

We’ve gone through all this before but it never sent gas to 6 dollars a gallon and never rose .58 cents in 3 days.

[muriel_volestrangler]

6. Not really 'plummeting' - just gave up the huge increase it saw from around March

It's still selling for more than at any time between Oct 2017 and Oct 2021: https://www.bbc.co.uk/news/topics/cmjpj223708t/oil

[durablend]

3. Just doing their part to get Democrats out of office

[uponit7771]

7. +1,