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Raw data: oil moves “sharply upward”

Published on 12 Comments on Raw data: oil moves “sharply upward”

Oil is in the news again. OPEC decided today not to approve a faster production increase, which has resulted in a "sharp increase" in the price of crude. So naturally you'd like to know just what the price of crude is. Your wish is my command:

12 thoughts on “Raw data: oil moves “sharply upward””

    1. jte21

      Well, except it would be nice if the higher prices were 1. predictable and 2. the result of a carbon tax that went into building a renewable energy economy rather than into the pockets of oil companies.

    2. D_Ohrk_E1

      No.

      It drives continental production of oil higher, particularly (shale) oil fracking and tar sand extraction, and puts more money into the coffers of all the wrong nations.

      Continental oil production drops off when oil is too cheap to cover production costs.

      1. Spadesofgrey

        Nope. Oil is high enough it starts disrupting foreign oil income to where they lose share. It's why Drums OPEC point is.toast. Things change. Ida knocked out oil production coupled with low supply means a increase is coming from US wells or foreign wells. Since October 2018, the choice has been made.

  2. Larry Jones

    Oil is "moving sharply upward" right now in Huntington beach, from the ocean floor to the ocean surface and then on to the beach where it has spread toxins, tar and death along a 6 mile stretch. It's an environmental catastrophe, and I hope investors enjoy their profits.

    1. Rattus Norvegicus

      I'm very familiar with Bolsa Chica which is the wetland that is threatened. Used to go there with my father when he was doing the research for his master's thesis there. Nice little area.

      1. Larry Jones

        We might see those wetlands changed for the worse, potentially forever. As this disaster develops and the larger threat of climate change threatens, the question I would ask is "Do we value life on this planet more or less than the profits of fossil fuel companies?"

        I can't believe anyone cares about the price of Brent crude today and in all the days to come.

  5. rick_jones

    Well, if you are accepting commands 🙂

    Go back further in time. Say to a year or three before the start of the Great Recession.

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