El-Mariachi Posted September 28, 2006 Share Posted September 28, 2006 I'm sure everyone has noticed the recent decline in the price of Oil. What's the cause behind it ? I've certainly not heard of extra refining capacity coming online etc. mmm Link to comment Share on other sites More sharing options...
bladesufc1 Posted September 28, 2006 Share Posted September 28, 2006 I'm sure everyone has noticed the recent decline in the price of Oil. What's the cause behind it ? I've certainly not heard of extra refining capacity coming online etc. mmm hasn't there been 2 massive pipe lines opened up in or around greece and russia??? Link to comment Share on other sites More sharing options...
downtroad Posted September 28, 2006 Share Posted September 28, 2006 The stock market is a big con. Full stop. Link to comment Share on other sites More sharing options...
El-Mariachi Posted September 28, 2006 Author Share Posted September 28, 2006 hasn't there been 2 massive pipe lines opened up in or around greece and russia??? not heard anything. Have you got any links ? Link to comment Share on other sites More sharing options...
Darbees Posted September 28, 2006 Share Posted September 28, 2006 There is rarely any reason for it to go up other than for pure greed by the cartel of producers. The slightest little thing in the news is just an excuse to put it up. It's come down a bit recently at petrol pumps but most other associated products such as electricity, gas, lpg etc haven't fallen. Link to comment Share on other sites More sharing options...
sTaGeWaLkEr Posted September 28, 2006 Share Posted September 28, 2006 I don't actually know how much petrol costs, because I see it as an essential commodity and therefore believe that moaning over which place is 3p cheaper than another is a little sad, in addition to being pretty futile. We have to use the stuff anyway, so driving an extra mile to save 3p is not only missing the point a tad, but isn't exactly my idea of a good time either. However, moaning is sooo last year so I'll stop it at once! Whilst filling my car up last night, I noticed that it cost me several pounds less than it would normally (and no, it wasn't half full already!) When I got back in the car, Lee said that petrol prices have gone down. I just wondered if anyone knew why and when this happened? Presumably it's linked to the change in oil prices? Link to comment Share on other sites More sharing options...
El-Mariachi Posted September 28, 2006 Author Share Posted September 28, 2006 There is rarely any reason for it to go up other than for pure greed by the cartel of producers. The slightest little thing in the news is just an excuse to put it up. It's come down a bit recently at petrol pumps but most other associated products such as electricity, gas, lpg etc haven't fallen. But the cartel (I'm assuming you're referring to Opec) dont set the prices. Those are set by the mysterious force we call the "market". I read something where Opec were looking to cut production in order to lift the prices... A 10% drop is significant, and it has happened without much fanfare, hence the question why ??? Link to comment Share on other sites More sharing options...
chris@25 Posted September 28, 2006 Share Posted September 28, 2006 http://news.bbc.co.uk/1/hi/business/5365756.stm Link to comment Share on other sites More sharing options...
El-Mariachi Posted September 28, 2006 Author Share Posted September 28, 2006 http://news.bbc.co.uk/1/hi/business/5365756.stm Cheers Chris Well fingers crossed that there are no more significant confrontations in the Middle East. I was just searching on the web and came across an article claiming that the US had stockpiled oil ahead of the mid-term elections. Regardless, I'm sure everyone will be happy to be paying less at the pump. Link to comment Share on other sites More sharing options...
Darbees Posted September 28, 2006 Share Posted September 28, 2006 But the cartel (I'm assuming you're referring to Opec) dont set the prices. Those are set by the mysterious force we call the "market". I read something where Opec were looking to cut production in order to lift the prices... A 10% drop is significant, and it has happened without much fanfare, hence the question why ??? They say it's the market but the producer just ramp production up and down when it suits them. They never lose, if they reduce production they just increase the price. The industry has the capacity to produce far more than it does. These various pipelines don't increase capacity out of neccessity they just give that particular supplier more control. Link to comment Share on other sites More sharing options...
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