I’d expect prices to go up immediately if only because of speculation

Hm

But yeah in a closed system, the world doesn’t need to change oil consumption levels for 3 months

But they are saying at least that their production will be back online at least in part by the end of the month

Who knows if that means like 500k barrels a day or 5m

Supposedly Saudi announced they will restore their production capacity by the end of October

Ah there you go, hadn’t read that yet

Saudi Arabia is a piece of shit. Once their oil goes bottom up, those rich princes will go back to fucking camels and eating sand

The sooner the better

Would you rather fuck camels and eat sand or fuck sand and eat camels

Probably fuck sand and eat camels

Gritty.

I wouldn't necessarily believe what Saudi says, however.

Camel meat is pretty tasty cooked right, I've heard

Again, market confidence is really low

Even if they restore it, we can see that they aren't untouchable.

Iran needs to chill out

https://tenor.com/view/chill-out-freeze-gif-5336649

Many countries already have scaled back daily production because the price of oil had lowered. If the price goes up, they can just produce more elsewhere to level it out.

Or sell their reserves like the u.s. is doing

Saudi arabia doesn't necessarily have much more oil than anywhere else anymore. They are already doing large scale fracking because their natural deposits are largely depleted.

Fracking can go on for quite awhile, but it's just very bad for groundwater.

They blast the rock with water and that exposes heavy metals, those heavy metals taint the water and it seeps into aquifers sometimes.

saudi is screwed in the long run

fracking aint gonna help

@Pelth the price is going up, sowdee arabia had a tanker explode so they can pin it on their political enemies, but they forget that they killed 3000 americans and laugh about it

it will go up in the short term at least

and also since donald has halted oil from Iran

it's been halted for a long time

which is bad,

not really

yes it is

The global producers of oil are a little different than they were 20 years ago. The middle east is becoming less important

all oil should be halted

Not when we don't have a viable replacement energy source ready for mass usage

Pretty much all non renewables use oil in some form

so they aren't really non renewables

energy is only one part of it also. so much oil is used for plastics and other things

https://www.forbes.com/sites/michaelshellenberger/2019/05/06/the-reason-renewables-cant-power-modern-civilization-is-because-they-were-never-meant-to/#3169720aea2b

redpilled article tbh

yes because companies and lobbying has done this