Will the saudis increase of half-million barrells help the prices go down or not?

Question

Will the saudis increase of half-million barrells help the prices go down or not?

Answer 1

NO-thats about like a midget pissing on a forest fire.

Answer 2

You will find that much of the price has been already set , as many share traders and futures traders have set next weeks prices prior to any oil even being pumped - Asia produces much oil too , but that has already been set also

Answer 3

The gas prices might come down for a short time but let's face it: we won't see $1.75, $2.50 or probably $3.25 a gallon ever again.  China, India and other countries where there are more people now who are able to buy and drive their cars that they otherwise couldn't 10, 20 or 30 years ago are driving up the demand for crude oil.  When the demand for oil is up so is the cost of gasoline. Welcome to the world that depend on fossil fuel.

Answer 4

I don't think it will make the prices go down as such.  It will make them rise more slowly than they would have otherwise.  But the effect will just be a few cents.

Answer 5

no. if yes then like three cents for a day. for this amount of cars that is not awhole lot of oil.

Answer 6

No it's the oil trader's that have jacked up our oil prices.

Answer 7

Nobody knows that for sure.  Remember that

(1) we get most of our oil from CANADA and Mexico

(2) most of the recent climb in the price from WALL STREET speculation (wall street greed).

So only if the wall street fat cats feel that they OVER bought, will the oil prices drop.

Good Luck...

Answer 8

Its NOT the Saudis fault that gas prices are high!

Its evil BIG OIL's fault with their outrageous billions and billions of dollars in profit!

Once "The Chosen One" takes power and leads us and the world into Nirvana where everybody in the world will be at peace and love one another ( it will be a beautiful thing ) and he taxes BIG OIL and puts them under his feet, gas prices will come down

ALL WORSHIP President Obama,  "The Chosen One"

Answer 9

Yes. More than the actual barrels just the news that OPEC is increasing the output will help price drop. So much of derivatives trading is happening in the crude sector that if output increases prices will drop.