Looks like now's a good time to fill them vans up as i just heard they're gonna start reducing the amount of oil they're gonna pump out to increase the prices. Unless i'm missing something here,weren't the Saudis genuinely concerned a few months back about the spiralling cost of oil and we're "considering" moves to reduce the cost of the stuff??? Now they aint making enough??? Can someone explain??? :
apparently what opec are saying is that they dont need to produce as much output as they are not selling as much oil, which i suppose is fair enough. Its like any other business if you arent selling as much maybe you wanna cut down on production.
From our point of view, the cost of a barrel of oil has still fallen despite their announcement. I read on the bbc website that ASDA are gonna freeze the price of fuel for 10 days, WHICHEVER way the price fluctuates.