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Global Spring?


Immaculate Vibes

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I’ll put this here as well as inflation thread because this seems like a pretty hostile act that could raise the temperature in a few ways. Obviously OPEC+ members upset about the talk of price caps. Probably don’t like our SPR dumps. Russia of course loves it. Prices should go up substantially. 

 

 

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20 minutes ago, Schulz2.0 said:

Not unless something happens. I know some of you guys need your doom porn though.

OPEC cutting production + a large number of domestic refineries amidst maintenance/repairs/disruption + inability to tap the SPR at the rate done prior = higher gas prices. 

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1 hour ago, BabaYaga said:

OPEC cutting production + a large number of domestic refineries amidst maintenance/repairs/disruption + inability to tap the SPR at the rate done prior = higher gas prices. 

OPEC's 2 million bpd cut was actually more like 900,000 bpd. They already weren't meeting their production quotas. This cut was to the production quota not actual output. Gas settled out at about 10 cents higher than it had been after that cut and the fire at the Toledo Husky refinery. 

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59 minutes ago, Schulz2.0 said:

OPEC's 2 million bpd cut was actually more like 900,000 bpd. They already weren't meeting their production quotas. This cut was to the production quota not actual output. Gas settled out at about 10 cents higher than it had been after that cut and the fire at the Toledo Husky refinery. 

They are a cartel.  They are addicted to triple digit prices/barrel and want to maintain these price controls.  Either way, it's hard to see how this doesn't elevate prices here at the pump.  

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1 hour ago, Schulz2.0 said:

OPEC's 2 million bpd cut was actually more like 900,000 bpd. They already weren't meeting their production quotas. This cut was to the production quota not actual output. Gas settled out at about 10 cents higher than it had been after that cut and the fire at the Toledo Husky refinery. 

 

2 hours ago, Schulz2.0 said:

I literally work in refining.

Any thoughts on the potential gas export ban that has been floated as possibility?

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Streamlining German ops. Looking at how to structurally adjust main German site.  
 

Also, 

These sanctions have reliably led to higher costs/tighter supplies for the sanctioned goods.  We’ll see whether Russia makes up for the volume loss with higher prices like has happened to an extent with oil and gas. 
 

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21 minutes ago, Humble Beast said:

Streamlining German ops. Looking at how to structurally adjust main German site.  
 

Also, 

These sanctions have reliably led to higher costs/tighter supplies for the sanctioned goods.  We’ll see whether Russia makes up for the volume loss with higher prices like has happened to an extent with oil and gas. 
 

A lot of industrial production in Europe is going to move to the US soon.

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If they stop importing aluminum, will beer be packaged in capri sun pouches?

I kid. But banning Russian aluminum is going to cause problems for construction. Talking to my subcontractors, glass and aluminum prices have already gone up 40% this year. This is going to make construction costs even higher. 

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