OPEC makes strongest plea yet for deal with rivals to stop oilï¿½s 72% free fall | Financial Post

World | 207625 hits | Jan 26 8:10 am | Posted by: shockedcanadian

After a 72% crash in prices in less than two years, the cartel that has been holding global oil markets for ransom says it is ready to embrace rivals and thrash out a compromise

Comments

by GreenTiger
Wed Jan 27, 2016 7:42 pm
I am not overly upset that things are not going well for OPEC.
by peck420
Wed Jan 27, 2016 7:50 pm
Didn't OPEC make a unilateral decision, to keep pumping, to start this off?

I guess they should have thought this through a little harder.
by Thanos
Wed Jan 27, 2016 7:53 pm
They did this on purpose, not just to screw the Russians but to destroy all their other competitors too. Fuck them. No deal with fucking greedy Arab scum.
by andyt
Wed Jan 27, 2016 7:56 pm
As the article explains, they thought the US shale producers would fold far more quickly. It sounds like it's coming down to the wire, with each side hurting and seeing who blinks first.

Also said we could see a very quick spike in prices with a very volatile market. What all this means for Canada I don't know. Alberta going totally bipolar I guess.
by Thanos
Wed Jan 27, 2016 9:18 pm
I hope that legalization occurs soon because with the left in control of everything now it'll be needed to provide all the new jobs. Apparently it's the only industry remaining that the people now in charge don't find to be terribly upsetting.

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