Saudi Arabia has slashed oil production between 2 million bpd and 2.5 million bpd. Iraq, OPEC’s second-largest producer behind Saudi Arabia, is also slashing output, by about 2.9 million bpd. Production cuts in the United Arab Emirates (UAE) currently amount to 500,000 bpd-800,000 bpd, while Kuwait has slashed output by about 500,000 bpdhttps://oilprice.com/Latest-Energy-News/World-News/Gulf-Producers-Slash-Oil-Output-by-5-Million-Bpd.html
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>>530368796The funniest thing about it is that Iran doesn't benefit from it at all.their oil is sanctioned and not traded on the markets
I think if it continues that Saudi Arabia is not going to be a complete loser here, because they have another sea to ship out of, although the infrastructure probably isn't there for it. Doesn't mean they won't make it work though.
>>530368796Last drops of oil coming before Iran hits to their oil facilities and fully stop it....ever thought about that scenario?...think now.
>>530368796Who cares, bomb them and they'll reverse course. Simple as that, libshit.
>>530368796good, I don't like bpd, the less bpd they slash, the better
Fake hysterya by PANICKANS, the oil is already flowing through the straight and with record numbers. Oil is down, DOW is up.
sneed
I'm waiting to fill up my gas tank because I'm expecting oil to go MUCH lower.
>>530368796This conflict could gain us YEARS in the fight against climate change. And those are years we desperately need.Trump may go down in history as not only the man who eliminated the greatest geopolitical threat of the 21st Century (Iran), but also the man who saved the whole planet from ecological disaster.All we can do now is hope that this conflict doesn't wrap up anytime soon, and that oil production keeps going offline.
>>530368796What if this war is a gift to Elon Musk so people will buy electric cars
>>530368796why produce if it cannot be shipped
>>530375162>>530368963>>530368915Eurosisters, what will we ever do without the oil we don´t even buy from them?.
>>530375162Basically this. They're going to sell oil reserves so things might be stable for a week or two but after that things are going to go really south. EU might be fine by just burning more coal and if things are really bad they can just beg Russia. US will see spike in price but will be fine overall. China is def going to take a huge hit but big enough to absorb the losses and they have coal supplies too, even if the air quality tanks. South Korea and Japan on the other hand might actually implode. With EU out of the picture due to energy crunch China might actually make a move on Taiwan and then immediately to South Korea and Japan depending on how bad things are in the US.
