>Brent crude is based on a blend of oils most of which is produced in the North Sea.>it goes up severly when something happens outside of the North Sea areaWhy are they like this, anons?
>>531255839Hehe.
Ok Im going to explain it so even the dumbest motherfucker in dumbistan USA can understand.Supply and demand.Demand stays the sameSupply goes down. Price goes up.All crude eventually becomes energy or crude derived products.
>>531255839Google substitute
Seriously? You think the British or Norwegians would ever orchestrate shit like this on purpose? Grow up.
>>531255839There are a lot of wells that are only profitable when oil is above a certain level.When the prices hit that level they start pumping but otherwise leave them off.To some degree or another a lot of industries act the same way, supply elasticity.Other countries are very meta and try to produce the amount that creates the best price for best overall profit total or to make reserves last longer.
>>531255839Historically, oil prices were very stable. It wasn't until Israel began using its Best Golem America to manipulate the world order that oil prices began making such radical changes.
>>531255839It's easier to think of it as simply being energy.To extract energy from the ground, it takes energy.If this energy you're using is more expensive than the energy you're getting out, you've got a big problem.And the only way to solve that problem.And whilst there are many ways to solve this problem. It usually boils down to just charging more for the energy you're extracting.
>>531255839If oil starts costing more anywhere in the world, it starts costing more everywhere in the world. If there's a significant price difference between two regions, people can just buy it from where it's cheaper and sell to where it's not expensive. And they'll do so until the prices equalize.
>>531255839This is just my understanding. Brent is the highest quality 'pool' of oil on earth. This is why it's always slightly more expensive than WTI, which is the standard for oil quality. The stuff that comes out of the middle east is quite high quality, particularly Saudi Arabia. Brent is always the first to go up and last to go down.
>>531256090This. Rumors that Norwegians were involved with blowing up nordstream are malicious lies. We are just friendly and helpful oil merchants that never dindu nuffin.
>>531256526That's correct. Norway and the middle east has high quality oil we just pull straight up from huge reservoirs underground, so it's efficient and easy to refine. Countries like the US have shit oil they have to frack, which is why they import a lot of oil from countries with better oil.
Used to live in Shetland 2020 - 2022Like living on an Arctic research station.7 days a week working 2 jobs managed to get a mortgage despite all odds but ended up having a nervous breakdown or I got spiked or whatever happened so I live in bolivia on UK NEETbux because you loose all your rights when that happens and they can just rearrest you if you let it slip that they've taken the joy out of your life chemically.I wish what is happening on eastern Ukraine was happening in north east Scotland I'm just here because it's not UK jurisdiction, they got ATMs and you can do transfer to money pickup places with PayPal and you get disability NEETbux if this happens.Retarded high house prices and boomers shutting down most things over the dumbest excuse made me see the error of my ways working hard
