as the economy crashes, they're opening the taps in coordination to try to tank US oil production (which needs $70+ oil to remain profitable)
Reposted from
NBC News
Eight key OPEC+ producers agree to raise combined crude oil output by 411,000 barrels per day, speeding up the pace of their scheduled hikes and pushing down oil prices.
Comments
They deserve to suffer.
And here I was thinking you'd eventually start getting less
OPEC is definitely not on the side of democracy, but that said I will accept any ally in the fight against fascism
https://bsky.app/profile/peark.es/post/3llwgrw7njc2p
They intentionally opened the spigots to destroy over leveraged US shale producers
https://www.bscapitalmarkets.com/the-oil-crash-takes-its-toll-on-the-us-shale-industry.html
"The price of US oil fell more than 3%, sinking below $60 a barrel for the first time since April 2021."
https://www.cnn.com/2025/04/06/business/stocks-futures-sunday-tariffs/index.html
(Starting one unprovoked, and have the entire world retaliate in righteous indignation)
Gonna be fun times in oil country the next few months