reefraff
Active Member
Originally Posted by saltygerman
http:///forum/post/2900300
Why didn't they "fill the gaps" when gas was $4.00 gal?
They were pumping all they could and still are. OPEC will order an across the board production cut to try to force the price back up. Some of these countries might go along with it but if the dollar falls and helps hold the price of oil down there are very few countries that wont look at increasing production.
Think about it, they have already went from a 4 month or so average of better than 130 a barrel to under 50 a barrel and how long was the price over 100?. The have already had their revenue sliced by more than half. Do you really think they can afford to cut production.
http:///forum/post/2900300
Why didn't they "fill the gaps" when gas was $4.00 gal?
They were pumping all they could and still are. OPEC will order an across the board production cut to try to force the price back up. Some of these countries might go along with it but if the dollar falls and helps hold the price of oil down there are very few countries that wont look at increasing production.
Think about it, they have already went from a 4 month or so average of better than 130 a barrel to under 50 a barrel and how long was the price over 100?. The have already had their revenue sliced by more than half. Do you really think they can afford to cut production.