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Oil prices plunge after Opec meeting
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=22968		 Page 1 of 2
Author:  pcernie [ Thu Nov 27, 2014 9:00 pm ]
Post subject:  Oil prices plunge after Opec meeting
http://www.bbc.co.uk/news/business-30223721
Author:  jonbwfc [ Thu Nov 27, 2014 9:06 pm ]
Post subject:  Re: Oil prices plunge after Opec meeting
Just don't expect it to make any difference on the forecourt. George still wants his money...
Author:  big_D [ Fri Nov 28, 2014 5:06 am ]
Post subject:  Re: Oil prices plunge after Opec meeting
I don't know, prices over here have dropped nearly 15c a litre since last year. I'm paying less for a litre of unleaded than I was paying for a litre of diesel this time last year (unleaded is generally around 10c per litre more than diesel). I think I was paying around 1.48 for diesel and 1.58 for unleaded, not it is around 1.40 to 1.43 a litre for unleaded
Author:  paulzolo [ Fri Nov 28, 2014 10:13 am ]
Post subject:  Re: Oil prices plunge after Opec meeting
It’s 119.9 at Sainsbury’s last time I looked.
Author:  John_Vella [ Fri Nov 28, 2014 10:45 am ]
Post subject:  Re: Oil prices plunge after Opec meeting
paulzolo wrote:
It’s 119.9 at Sainsbury’s last time I looked.


It's been that price for a few days, in Manchester at least.

Maybe we should have a "Cost of petrol across the land" thread ;)
Author:  davrosG5 [ Fri Nov 28, 2014 11:40 am ]
Post subject:  Re: Oil prices plunge after Opec meeting
Filled up a the big Tesco Extra on the outskirts of Peterborough last night and unleaded was 122.9p, might have been down to 121.9 during the week though but I don't think it's dropped below 120 any time recently.
Author:  ProfessorF [ Fri Nov 28, 2014 10:45 pm ]
Post subject:  Re: Oil prices plunge after Opec meeting
120p when I filled up this evening at BP. 118p at the Sainsburys.
Author:  JohnSheridan [ Fri Nov 28, 2014 11:08 pm ]
Post subject:  Re: Oil prices plunge after Opec meeting
124.9p per litre unleaded here at Shell in Northampton
Author:  jonbwfc [ Sat Nov 29, 2014 12:21 am ]
Post subject:  Re: Oil prices plunge after Opec meeting
Think I paid 122.9 for the high RON stuff here in Manchester this evening.
Author:  l3v1ck [ Mon Dec 01, 2014 9:12 am ]
Post subject:  Re: Oil prices plunge after Opec meeting
I don't like massive drops in oil prices. The last time that happened for a long period of time I lost my job.
Author:  Spreadie [ Mon Dec 01, 2014 9:19 am ]
Post subject:  Re: Oil prices plunge after Opec meeting
l3v1ck wrote:
I don't like massive drops in oil prices. The last time that happened for a long period of time I lost my job.

I was surprised to hear they decided against cutting production. Most other industries face legal penalties for taking steps to artificially increase prices, but opec seem even more untouchable than fifa, when it comes to dodgy dealing.
Author:  davrosG5 [ Mon Dec 01, 2014 10:33 am ]
Post subject:  Re: Oil prices plunge after Opec meeting
Spreadie wrote:
l3v1ck wrote:
I don't like massive drops in oil prices. The last time that happened for a long period of time I lost my job.

I was surprised to hear they decided against cutting production. Most other industries face legal penalties for taking steps to artificially increase prices, but opec seem even more untouchable than fifa, when it comes to dodgy dealing.


Industries yes but isn't OPEC a cartel of governments rather than companies? That would fall to the WTO or UN to do something about and with oil the producing countries have an awful lot of clout - pretty much everyone needs oil.
I did read something about OPEC not cutting production possibly as a way to derail shale oil production in the states - low oil prices make it uneconomic to extract from shale reserves.
Author:  Spreadie [ Mon Dec 01, 2014 10:41 am ]
Post subject:  Re: Oil prices plunge after Opec meeting
davrosG5 wrote:
Spreadie wrote:
l3v1ck wrote:
I don't like massive drops in oil prices. The last time that happened for a long period of time I lost my job.

I was surprised to hear they decided against cutting production. Most other industries face legal penalties for taking steps to artificially increase prices, but opec seem even more untouchable than fifa, when it comes to dodgy dealing.


Industries yes but isn't OPEC a cartel of governments rather than companies? That would fall to the WTO or UN to do something about and with oil the producing countries have an awful lot of clout - pretty much everyone needs oil.
I did read something about OPEC not cutting production possibly as a way to derail shale oil production in the states - low oil prices make it uneconomic to extract from shale reserves.

Oh wow, predatory pricing too! You gotta love an even playing field.
Author:  davrosG5 [ Mon Dec 01, 2014 10:55 am ]
Post subject:  Re: Oil prices plunge after Opec meeting
Spreadie wrote:
Oh wow, predatory pricing too! You gotta love an even playing field.


Yup. Nobody ever said the system was fair, it just happens to be the only one we've got right now.
Author:  l3v1ck [ Mon Dec 01, 2014 10:56 am ]
Post subject:  Re: Oil prices plunge after Opec meeting
davrosG5 wrote:
I did read something about OPEC not cutting production possibly as a way to derail shale oil production in the states - low oil prices make it uneconomic to extract from shale reserves.

For now. It'll still be there when OPEC's cheap oil runs out.
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