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2020-03-09 International-UN-NGOs
DGCX Brent Crude Drops More Than 31% After OPEC Collapse
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Posted by Fred 2020-03-09 00:00|| || Front Page|| [11131 views ]  Top
 File under: Govt of Saudi Arabia 

#1 Bloodbath on world markets: Oil prices see the biggest plunge since the Gulf War in 1991 as Dow set to open 1,000 points lower and FTSE to sink 300 points amid coronavirus crisis
Posted by Skidmark 2020-03-09 03:04||   2020-03-09 03:04|| Front Page Top

#2 How Saudi Arabia is trying to CRIPPLE Russian oil industry by flooding world market and dropping price to a 30-year low in squabble over coronavirus that could put Trump's re-election at risk and trigger recession
Posted by Skidmark 2020-03-09 03:05||   2020-03-09 03:05|| Front Page Top

#3 this is a mess
Posted by newc 2020-03-09 04:09||   2020-03-09 04:09|| Front Page Top

#4 
Posted by g(r)omgoru 2020-03-09 04:19||   2020-03-09 04:19|| Front Page Top

#5 From Twitter: Timur Kuran @timurkuran

This oil-price plunge poses an existential threat to several unpopular autocracies, including Iran, KSA, and Venezuela. They will have to cut subsidies, which means trouble—trouble in the midst of a pandemic. We’re in uncharted territory.

Posted by 3dc 2020-03-09 06:53||   2020-03-09 06:53|| Front Page Top

#6 I take it there's been a serious drop in demand from China?
Posted by Procopius2k 2020-03-09 07:47||   2020-03-09 07:47|| Front Page Top

#7 And why will low oil prices mean a recession?

I can see some stock mkt. problems for the big boys on the indices but overall I would think it would help most everyone else.

Of course if the lack of demand is totally driven by corona fears........that would make some sense.
Posted by AlanC 2020-03-09 08:24||   2020-03-09 08:24|| Front Page Top

#8 Panic = time to make $$$

The economy will boomerang back quickly. This is ridiculously overblown.
Posted by Lex 2020-03-09 08:25||   2020-03-09 08:25|| Front Page Top

#9 ^^^ this
Posted by Chris 2020-03-09 09:11||   2020-03-09 09:11|| Front Page Top

#10 40 some years ago I watched a show on PBS called "Wall Street Week in Review" with Louis Rukyser.

He started one show with the line: "Wall Street did what it does best this week, it panicked."

That has stayed with me as received wisdom ever since.
Posted by AlanC 2020-03-09 11:15||   2020-03-09 11:15|| Front Page Top

#11 Since Trump's election the MSM (by which I mean the Democratic Party) has been playing the stock market boom as just rich guys getting richer. They will now seamlessly pivot to "small investors losing gazillions" (until the market recovers, when rich guys will resume getting richer.)

The person I would least like to be this morning is a manager for one of the large underfunded pension plans.
Posted by Matt 2020-03-09 12:29||   2020-03-09 12:29|| Front Page Top

#12  but overall I would think it would help most everyone else.

It’ll be tough on our frackers, too.
Posted by trailing wife 2020-03-09 13:10||   2020-03-09 13:10|| Front Page Top

#13 at $30/bar, it would make sense to fill the strategic reserve with as much as it can take

I think there is about 300 Million barrels of storage capacity that is currently unused.
Posted by lord garth 2020-03-09 13:26||   2020-03-09 13:26|| Front Page Top

#14 My stock is dropping,
calves!
Posted by Skidmark 2020-03-09 14:47||   2020-03-09 14:47|| Front Page Top

#15 Congrats Skid, may they come out the right direction and be loved by their mommas.
Posted by swksvolFF 2020-03-09 15:21||   2020-03-09 15:21|| Front Page Top

#16 I was thinking the same thing garth
Posted by Chris 2020-03-09 18:31||   2020-03-09 18:31|| Front Page Top

23:19 Texhooey
22:30 DarthVader
22:28 DarthVader
21:50 Anomalous Sources
19:29 Woodrow
19:21 Woodrow
19:18 Woodrow
19:16 Woodrow
19:15 Frank G
19:06 Frank G
18:50 g(r)omgoru
18:46 Procopius2k
18:31 Chris
18:30 Chris
18:28 Chris
18:25 SteveS
18:00 Matt
17:59 trailing wife
17:47 AlanC
17:16 g(r)omgoru
17:13 NoMoreBS
17:12 Mullah Richard
17:06 Warthog
17:03 Black Charlie Flerong3458









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