Saudia Arabia going against Opec production cuts?

Discussion in 'Politics, Religion, Social Issues' started by OscarTheGrouch, Sep 11, 2008.

  1. OscarTheGrouch macrumors 6502

    Joined:
    Feb 28, 2007
    Location:
    G' Vegas South Carolina
    #1
    I heard this on the news just a little while ago. They were saying this would effectively dissolve the power that OPEC has. I wonder what this is going to mean for world oil prices. I do not have a link to any articles, but I heard it on CNN I believe at lunch- Saudia Arabia said it would not follow the production cuts that OPEC has passed.
     
  2. kavika411 macrumors 6502a

    kavika411

    Joined:
    Jan 8, 2006
    Location:
    Alabama
  3. MacNut macrumors Core

    MacNut

    Joined:
    Jan 4, 2002
    Location:
    CT
    #4
    It means that the Saudi's can do what ever they want' if they want to produce more oil they will, if they want to cut it they will. It really doesn't change anything. Just who is making the decisions.
     
  4. TheAnswer macrumors 68030

    TheAnswer

    Joined:
    Jan 25, 2002
    Location:
    Orange County, CA
    #5
    The cynic in me says this means oil and thus gas prices are kept low until election day, in an attempt secure a third Bush term.
     
  5. iJohnHenry macrumors P6

    iJohnHenry

    Joined:
    Mar 22, 2008
    Location:
    On tenterhooks

Share This Page