andrewducker: (Santa)
andrewducker ([personal profile] andrewducker) wrote2008-09-13 05:15 pm
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Bloody Hell

Why did nobody tell me that Saudi Arabia had left OPEC?

Next up - more of the oil producing countries converting to using the Euro.
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[identity profile] interactiveleaf.livejournal.com 2008-09-13 05:19 pm (UTC)(link)
You didn't know? Sorry, I thought everyone knew.

Apparently P. Diddy has a lot more influence than I'd realized.
matgb: Artwork of 19th century upper class anarchist, text: MatGB (Default)

[personal profile] matgb 2008-09-13 08:16 pm (UTC)(link)
Because as far as I can see it's journalistic hyperbole? They dissented with the majority and said they'd only put in a partial decrease in production instead of the full amount.

They're still listed as members and were in the meetings the next day. It likely means a weakening of the cartel, but it's not dead and they haven't formally left. Unless there are better sources stating they have than wikipedia and an MSN blog.

[identity profile] drjon.livejournal.com 2008-09-13 11:08 pm (UTC)(link)
Why did nobody tell me that Saudi Arabia had left OPEC?

Well, I did mention it two days ago...

[identity profile] cheekbones3.livejournal.com 2008-09-14 09:16 am (UTC)(link)
That does surprise me. I'd only heard about the cut in production which made me laugh, as it's really not that long since they were targeting a price of about $25 as being roughly ideal.

[identity profile] johnbobshaun.livejournal.com 2008-09-14 12:11 pm (UTC)(link)
Which reminds me of this. Rob Newman explaining the OPEC situation with the aid of Salvador Dali.

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