Oil Surges to Six-Year High as OPEC+ in Crisis Mode_老虎社区_美港股上老虎

Oil Surges to Six-Year High as OPEC+ in Crisis Mode

Bloomberg2021-07-06

(Bloomberg) -- Oil jumped to the highest in more than six years after a bitter fight between Saudi Arabia and the United Arab Emirates plunged OPEC+ into crisis and blocked a supply increase. West ...

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2e85a10f
·2021-07-06
Ok
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dryGin
·2021-07-06
Ok
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Mib1515
·2021-07-06
Comment
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- psion:
  comment
  2021-07-06
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- Brugelion:
  Does that mean others will fall due to rising oil prices?
  2021-07-06
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tearach
·2021-07-06
Pls like
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kungpao
·2021-07-06
It was negative $37 last year.
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- Mib1515:
  Ok
  2021-07-06
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ZYBC
·2021-07-06
As economy opens up oil will continue to move towards 100 per barrel.
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- markmtay:
  So will inflation... 🥲
  2021-07-06
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Paulie13
·2021-07-06
Oil
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The fear that events could spiral further out of control was evident, and the U.S. called for a compromise.\n“We do not want a price war,” said Iraq’s Oil Minister Ihsan Abdul Jabbar. “And we do not want oil prices to rise to more than the current levels.”\nMeeting Abandoned\nAfter several days of tense talks, the Organization of Petroleum Exporting Countries and its allies abandoned their Monday meeting. A disagreement over how to measure production cuts upended a tentative deal to boost output and swiftly devolved into an unusually personal and public spat between Saudi Arabia and the UAE.\nThe last time those two countries clashed over oil policy, in December 2020, the UAE floated the idea of leaving the cartel. 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Within hours, the administration of U.S President Joe Biden urged the group to get its act together.\nThe White House is “closely monitoring the OPEC+ negotiations and their impact on the global economic recovery,” a spokesperson said. “Administration officials have been engaged with relevant capitals to urge a compromise solution that will allow proposed production increases to move forward.”\nIn this regard, the Americans may find allies within the cartel.\nOPEC+ has already been reviving some of the crude supplies it halted last year in the initial stages of the pandemic. The 23-nation coalition decided to add about 2 million barrels a day to the market from May to July, and the question before ministers on Monday was whether to keep going in the coming months.\nThe cartel’s own data show that once-bloated oil inventories are back down to average levels as the recovery in fuel consumption continues. Demand in the second half will be 5 million barrels a day higher than in the first six months of the year, OPEC Secretary-General Mohammad Barkindo said last week.\nThe main proponent for opening the taps has been Russia. Its companies are keen to boost output, while rising domestic gasoline prices are an issue of growing importance before the parliamentary elections in September.\nMoscow’s failure to secure its desired production increase was a rare setback for Deputy Prime Minister Alexander Novak, one of the architects of the OPEC+ alliance. He made no public comment after the cancellation of Monday’s meeting, but has every incentive to continue working behind the scenes to find a resolution.\nIraq’s oil minister said he hopes to “witness a date” within the next 10 days for another OPEC+ meeting, which should be able to reach a deal that satisfies everyone. In the meantime, he expects members will continue to honor their existing production quotas, and said the impact on prices will be temporary.\n“The market was expecting a small addition in the coming months, the delay in the agreement led to this slight rise in oil prices,” Jabbar said in a phone interview. “Prices may come down if OPEC agrees to raise 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that mean others will fall due to rising oil prices?","text":"Does that mean others will fall due to rising oil prices?","html":"Does that mean others will fall due to rising oil prices?"}],"langContent":"EN"},{"id":157307347,"gmtCreate":1625563305189,"gmtModify":1633939612620,"author":{"id":"3575256032463698","authorId":"3575256032463698","name":"tearach","avatar":"https://static.tigerbbs.com/861adeae93387d8335f9550889bafb00","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575256032463698","authorIdStr":"3575256032463698"},"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/157307347","repostId":1108840309,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":157975268,"gmtCreate":1625562574954,"gmtModify":1633939619321,"author":{"id":"3575091423649914","authorId":"3575091423649914","name":"kungpao","avatar":"https://static.tigerbbs.com/f469169ddf2122a6445250fcaea5382c","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3575091423649914","authorIdStr":"3575091423649914"},"htmlText":"It was negative $37 last year.","listText":"It was negative $37 last year.","text":"It was negative $37 last year.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/157975268","repostId":1108840309,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5136411,"gmtCreate":1625563784870,"gmtModify":1635236029132,"authorId":3579210010472476,"author":{"id":3579210010472476,"idStr":"3579210010472476","authorId":3579210010472476,"name":"Mib1515","avatar":"https://static.tigerbbs.com/c0b85730abdbda4c69ac70cb9d1f58cb","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157975268,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":157942694,"gmtCreate":1625561850018,"gmtModify":1631886381583,"author":{"id":"3582811370180794","authorId":"3582811370180794","name":"ZYBC","avatar":"https://static.tigerbbs.com/cb88d1cd594aa6e13e8fba78fe9b6036","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3582811370180794","authorIdStr":"3582811370180794"},"htmlText":"As economy opens up oil will continue to move towards 100 per barrel.","listText":"As economy opens up oil will continue to move towards 100 per barrel.","text":"As economy opens up oil will continue to move towards 100 per barrel.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/157942694","repostId":1108840309,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5136531,"gmtCreate":1625564499818,"gmtModify":1631886381586,"authorId":3574921493150763,"author":{"id":3574921493150763,"idStr":"3574921493150763","authorId":3574921493150763,"name":"markmtay","avatar":"https://static.tigerbbs.com/2f2384a278d49b0e9edc5a5fc1f39ebe","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":157942694,"type":1,"supId":0,"prevId":0,"content":"So will inflation... 🥲","text":"So will inflation... 🥲","html":"So will inflation... 🥲"}],"langContent":"EN"},{"id":157946360,"gmtCreate":1625561800750,"gmtModify":1633939625464,"author":{"id":"3571353151224967","authorId":"3571353151224967","name":"Paulie13","avatar":"https://static.tigerbbs.com/265f29263756a1465323c33d81deca23","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3571353151224967","authorIdStr":"3571353151224967"},"htmlText":"Oil","listText":"Oil","text":"Oil","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/157946360","repostId":1108840309,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":64,"commentSize":7,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}