General Discussion

Melon

(1,820 posts)

16. This isn't the entire story. Supply chains have changed.

Wed Jun 10, 2026, 12:29 PM

7 hrs ago

China has cut consumption to gas and refinery products.
Olefins production from oil to Naptha has changed over to CTO( Coal to Olefins ) and MTO( methanol to olefins).
The Chinese economy is bad and exports of chemicals have resumed.
China has oil reserves for 2026.
Every small country with oil has increased output.

In short…the world is ok near term. It’s why oil is falling. I expect downward economic pressure mid July ish as Chinese chemical production reaches EU and the US.

The question is how this has changed the global oil infrastructure even after this war. It has diminished the relative importance of Middle East oil.

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I Told You The Price Of Crude Is Being Rigged [View all] gab13by13 8 hrs ago OP

Oil prices have always been rigged. They go up and down when opec leaders need new stuff. Srkdqltr 8 hrs ago #1

They've been rigged (subsidized) to keep prices low for the last 60 years about. eom Exp 2 hrs ago #36

The EIA reported this morning UpInArms 8 hrs ago #2

i have no idea what that means. dem4decades 8 hrs ago #3

The EIA reports on our inventory of fossil fuels UpInArms 8 hrs ago #7

If they have that much control and wanted to help Trump, why don't they lower price to where it was in February? onenote 8 hrs ago #4

It's a happy medium right? gab13by13 8 hrs ago #8

Let's see what happens as the November elections near Raven123 6 hrs ago #19

Another article Takket 8 hrs ago #5

Yes, and the people who set the prices are very much aware of that scenario. gab13by13 8 hrs ago #9

The oil companies fucking suck. Yet we're practically forced to buy their products. Initech 8 hrs ago #6

It's all going to hit a wall at some point this year SamuelTheThird 8 hrs ago #10

You should buy as much oil futures as you can then MichMan 3 hrs ago #35

I think you've missed some other influencing factors Fiendish Thingy 8 hrs ago #11

From my co-pilot search gab13by13 8 hrs ago #13

I think the markets pay more attention to actual production of oil Fiendish Thingy 7 hrs ago #14

I have been following the price of crude for 3 months, gab13by13 7 hrs ago #15

See post #17 Nt Fiendish Thingy 6 hrs ago #22

You Do Realize That ProfessorGAC 6 hrs ago #23

It goes back up when the deal fails to materialize or an attack happens. maxsolomon 5 hrs ago #28

That's Not What The OP Said ProfessorGAC 5 hrs ago #29

This. Track Brent Physical Delivery Melon 7 hrs ago #17

How can you say the price is in line with Brent futures when gab13by13 6 hrs ago #18

Reserves are just that: reserves. They can only put down pressure on prices for months ... marble falls 5 hrs ago #27

Exactly what I said. Current available oil is tracking with futures Melon 4 hrs ago #30

Exactly right. This is all about pricing, not availability. marble falls 4 hrs ago #31

The only way to end this is to remove Krasnov and get out. GoodRaisin 8 hrs ago #12

Shared frustration and crushed optimism relogic 5 hrs ago #24

Seriously: If the US wanted to clear the Straights and the Gulf, the Navy with all the aircraft carrier groups in ... marble falls 4 hrs ago #33

This isn't the entire story. Supply chains have changed. Melon 7 hrs ago #16

Nice post, gab13by13 6 hrs ago #20

I wouldn't be surprised if Drumpf wasn't bribing and/or threating the players to keep the price artificially low ToxMarz 6 hrs ago #21

It's traders and speculators fiddling with the Commodities Market by disaster investing. marble falls 5 hrs ago #25

They control the oil... kentuck 5 hrs ago #26

Did Trump admit to piracy today? LR3 4 hrs ago #32

Didn't TACO actually joke about being a pirate a few weeks ago? marble falls 4 hrs ago #34

He did some rigging in early 2020 when the pandemic started Jbraybarten 1 hr ago #37