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Saudis exports up sharply in past week

Reuters -- Saudi Arabia has raised oil exports and the United States is considering releasing crude from its strategic reserves as oil prices hit nine-month highs on Friday and concerns deepened over Iran's nuclear program.

Brent crude surged to over $125 a barrel after the United Nation's nuclear watchdog issued a report flagging the potential military nature of Iran's nuclear program, following an aborted U.N. inspection mission to Iran this week.

The report heightened fears of a supply disruption and could stoke worries in Israel, which has threatened Iran with pre-emptive strikes on nuclear sites. That would send shockwaves across the region and almost certainly drive oil prices even higher.

Top oil exporter Saudi Arabia increased exports over in the past week and offered additional crude to i

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Submitted Feb 25, 2012 By: jem069

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honda0105 Champion Author Tallahassee Posts:18,599 Points:1,607,570 Joined:Nov 2008	Message Posted: Feb 28, 2012 5:56:56 AM Ignore honda0105 Report Abuse market prices drop for crude, but the pump prices don't budge (b/c it means more Billion profits for Pig Oil).
gass12 Champion Author Omaha Posts:8,384 Points:2,302,740 Joined:Oct 2005	Message Posted: Feb 26, 2012 4:54:07 PM Ignore gass12 Report Abuse At lease there is no shortage.
dsaine Champion Author North Carolina Posts:2,987 Points:630,545 Joined:May 2011	Message Posted: Feb 26, 2012 7:52:58 AM Ignore dsaine Report Abuse Excellent
SavingInNC Champion Author North Carolina Posts:5,778 Points:1,091,515 Joined:Oct 2006	Message Posted: Feb 26, 2012 7:35:45 AM Ignore SavingInNC Report Abuse Good
numbers Champion Author North Dakota Posts:2,801 Points:850,040 Joined:Aug 2004	Message Posted: Feb 26, 2012 7:32:47 AM Ignore numbers Report Abuse Good for them and should help us
quasar502 Champion Author Lansing Posts:3,573 Points:799,400 Joined:Jan 2011	Message Posted: Feb 26, 2012 5:12:11 AM Ignore quasar502 Report Abuse Very good.
chuckwthompson Champion Author Charlotte Posts:3,745 Points:575,235 Joined:Sep 2011	Message Posted: Feb 26, 2012 3:39:54 AM Ignore chuckwthompson Report Abuse Oh, Obama will fix everything... He will just bow to them and tell them that we apologize for all the things that America did to them. I'm sure that will do it! If that doesn't work he will sic Michelle on them!
tomok Champion Author Portland Posts:32,962 Points:2,343,560 Joined:Aug 2006	Message Posted: Feb 26, 2012 3:06:36 AM Ignore tomok Report Abuse Saudis exports up sharply in past week because other countries have been cutting into their profits. Saudis produce cheaper oil, making the other oil more expensive and not profitable to produce. The other country suppliers cut back and buy more Saudi oil, increasing the Saudis profits. Whatever the size or shape of the vehicle is, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using ‘other’ forms of transportation to help lower your cost. The price of fuel at the pump is too high! 12/22/2012!
jorod55 Champion Author California Posts:1,470 Points:430,000 Joined:Dec 2011	Message Posted: Feb 26, 2012 1:16:21 AM Ignore jorod55 Report Abuse If all our transportation and energy go to electric and nat gas... Guess they will have to eat their oil.
SparkieMi Champion Author Kalamazoo Posts:3,251 Points:586,435 Joined:Sep 2011	Message Posted: Feb 26, 2012 12:57:54 AM Ignore SparkieMi Report Abuse Good post gasokie....
us4usa Champion Author Missouri Posts:5,980 Points:1,111,315 Joined:May 2008	Message Posted: Feb 26, 2012 12:31:06 AM Ignore us4usa Report Abuse They are making big bucks now...
cateyes8264 Champion Author Tennessee Posts:2,957 Points:641,865 Joined:Jul 2011	Message Posted: Feb 26, 2012 12:22:37 AM Ignore cateyes8264 Report Abuse The speculators will just keep driving the price up.
southrob Champion Author Tucson Posts:3,590 Points:686,225 Joined:Mar 2011	Message Posted: Feb 26, 2012 12:22:08 AM Ignore southrob Report Abuse we should be keeping our oil here to help our economy instead of importing it
ron98146 Champion Author Seattle Posts:1,579 Points:964,105 Joined:Jun 2008	Message Posted: Feb 26, 2012 12:21:50 AM Ignore ron98146 Report Abuse now how does supply and demand work?
Beboper Champion Author Virginia Posts:8,717 Points:2,161,840 Joined:Oct 2005	Message Posted: Feb 26, 2012 12:18:42 AM Ignore Beboper Report Abuse greed that is all it is
Number43 Champion Author Lexington Posts:8,686 Points:1,636,220 Joined:Oct 2008	Message Posted: Feb 26, 2012 12:14:29 AM Ignore Number43 Report Abuse There is no REAL need for more oil but the speculators will buy everything at the moment.
Number43 Champion Author Lexington Posts:8,686 Points:1,636,220 Joined:Oct 2008	Message Posted: Feb 26, 2012 12:13:35 AM Ignore Number43 Report Abuse The saudi's just want to make some extra cash.
jkpsr Champion Author New Jersey Posts:4,074 Points:1,100,930 Joined:Jun 2005	Message Posted: Feb 26, 2012 12:11:54 AM Ignore jkpsr Report Abuse This is to prevent the price of oil to increase quickly when Iran is embargoed.
jetskijerry Champion Author North Carolina Posts:3,886 Points:770,320 Joined:Mar 2011	Message Posted: Feb 26, 2012 12:10:44 AM Ignore jetskijerry Report Abuse The rich get richer.
gocatgo Champion Author South Carolina Posts:15,637 Points:2,527,630 Joined:Apr 2006	Message Posted: Feb 26, 2012 12:10:03 AM Ignore gocatgo Report Abuse Where's old w Bush when you need someone to hold hands with a Saudi Prince to do some serious sucking up.
esquared Champion Author Oklahoma City Posts:8,057 Points:1,968,160 Joined:Jan 2006	Message Posted: Feb 26, 2012 12:09:57 AM Ignore esquared Report Abuse Conserve, baby, conserve!
bra0712 Champion Author Arizona Posts:3,655 Points:766,620 Joined:Nov 2008	Message Posted: Feb 26, 2012 12:09:53 AM Ignore bra0712 Report Abuse Duh
judgemobile Champion Author Ohio Posts:7,560 Points:2,443,185 Joined:Nov 2005	Message Posted: Feb 26, 2012 12:08:04 AM Ignore judgemobile Report Abuse Saudis have THEIR interests in mind, and Bummer bows down to them, as we have seen.
RAKARWOWSKI Champion Author Chicago Posts:3,990 Points:819,075 Joined:Jan 2011	Message Posted: Feb 26, 2012 12:07:39 AM Ignore RAKARWOWSKI Report Abuse They will make big money!
edamp04 Champion Author Fort Worth Posts:4,578 Points:836,805 Joined:Nov 2010	Message Posted: Feb 26, 2012 12:07:08 AM Ignore edamp04 Report Abuse Another war
gasokie Champion Author Oklahoma Posts:3,442 Points:1,323,805 Joined:May 2007	Message Posted: Feb 26, 2012 12:04:30 AM Ignore gasokie Report Abuse Don't get too excited and think the Saudi's like us any. They want to feed us enough oil to keep our economy going. Their economy is still based on the dollar too and our ability (and their other customer's) to keep on buying their oil. And you can be sure the Iranians are "smoking'" over all this. They hate the rich Saudi bunch and eventually will try to get even. If Israel should attack Iran this April or so...Look out. Although there will be plenty of oil for about 90 days, the price will be outlandish. Just the hint of it is causing refiners to bid up futures and i don't blame them. They have to have oil to keep their refineries going. If Iran does their preempt strike and close the gulf off (easily done by mining) it will be the same effect. It will take our navy several days to clear it out presuming they don't keep on mining. Our navy can whip their navy but that's not the immediate problem. Iran has a lot of small boats and several larger vessels (20 submarines I read) ... Enough to keep things all blocked off for a few weeks...and that's all it takes. No tankers will even try it. Insurance companies won't let them. And who is to say a dragged out snippin' war won't develope out of this thing. Lord knows we're not going to nuke 'em. Or will we?
hamdriver Champion Author Lansing Posts:3,479 Points:1,376,500 Joined:Feb 2008	Message Posted: Feb 26, 2012 12:02:54 AM Ignore hamdriver Report Abuse Scam
blah2blah3 Champion Author Houston Posts:2,596 Points:598,920 Joined:May 2011	Message Posted: Feb 26, 2012 12:02:15 AM Ignore blah2blah3 Report Abuse ok
eswi Champion Author Madison Posts:2,535 Points:681,430 Joined:Mar 2009	Message Posted: Feb 26, 2012 12:01:58 AM Ignore eswi Report Abuse OK
LostAgain2009 Champion Author New Mexico Posts:2,394 Points:710,730 Joined:Apr 2009	Message Posted: Feb 25, 2012 11:56:30 PM Ignore LostAgain2009 Report Abuse Well whoop-de-doo!
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Feb 25, 2012 11:54:13 PM Ignore tippybuddy Report Abuse I agree it's the speculators
SparkieMi Champion Author Kalamazoo Posts:3,251 Points:586,435 Joined:Sep 2011	Message Posted: Feb 25, 2012 11:53:14 PM Ignore SparkieMi Report Abuse Interesting...
PoohMcGoo Champion Author Alabama Posts:3,067 Points:799,085 Joined:Dec 2010	Message Posted: Feb 25, 2012 11:51:27 PM Ignore PoohMcGoo Report Abuse They don't want to push us to electric cars..
teamdist Rookie Author Greensboro Posts:51 Points:2,104,570 Joined:Nov 2005	Message Posted: Feb 25, 2012 11:51:16 PM Ignore teamdist Report Abuse george Bush strikes again.
Cuzilla Champion Author Indianapolis Posts:12,188 Points:2,347,470 Joined:Sep 2005	Message Posted: Feb 25, 2012 11:50:43 PM Ignore Cuzilla Report Abuse When the price is high, they will pump more oil - it's a no-brainer!
gd83goldwinger Champion Author South Bend Posts:1,428 Points:503,480 Joined:May 2011	Message Posted: Feb 25, 2012 11:48:26 PM Ignore gd83goldwinger Report Abuse The speculators are causing the worries.
carman11 Champion Author North Carolina Posts:3,325 Points:689,775 Joined:Jun 2011	Message Posted: Feb 25, 2012 11:48:08 PM Ignore carman11 Report Abuse And the rest of the story is????
egd Champion Author Twin Cities Posts:8,088 Points:2,118,300 Joined:Mar 2005	Message Posted: Feb 25, 2012 11:46:34 PM Ignore egd Report Abuse how long will their last
drobbbb Champion Author Maryland Posts:3,470 Points:810,510 Joined:Dec 2010	Message Posted: Feb 25, 2012 11:46:17 PM Ignore drobbbb Report Abuse hopefully it helps
abcdMA Champion Author Worcester Posts:7,917 Points:1,574,005 Joined:Nov 2008	Message Posted: Feb 25, 2012 11:40:06 PM Ignore abcdMA Report Abuse that should resolve a lot of the Iranian cutback
raj_fl Champion Author Trenton Posts:3,199 Points:726,055 Joined:Oct 2010	Message Posted: Feb 25, 2012 11:39:49 PM Ignore raj_fl Report Abuse mmmm
Beaveronparade Champion Author Hartford Posts:2,102 Points:633,365 Joined:Mar 2011	Message Posted: Feb 25, 2012 11:36:12 PM Ignore Beaveronparade Report Abuse I agree that we need production here. We need to be independent.
daquanabe Champion Author Houston Posts:1,813 Points:372,925 Joined:Oct 2009	Message Posted: Feb 25, 2012 11:35:19 PM Ignore daquanabe Report Abuse We need more production in the US, while we are working on creating new, and viable, alternatives for the future.
LaVonneK Champion Author Iowa Posts:2,935 Points:624,800 Joined:Jul 2011	Message Posted: Feb 25, 2012 11:34:05 PM Ignore LaVonneK Report Abuse Gas prices are not about supply and demand.
bevmill Champion Author Georgia Posts:2,572 Points:598,595 Joined:Apr 2006	Message Posted: Feb 25, 2012 11:33:09 PM Ignore bevmill Report Abuse We go to produce other alternatives!
chequenman Sophomore Author Ontario Posts:147 Points:143,460 Joined:Oct 2008	Message Posted: Feb 25, 2012 11:30:56 PM Ignore chequenman Report Abuse Who's chain is being pulled Iran's or Israel's. [Edited by: chequenman at 2/25/2012 11:36:11 PM EST]
TedNC All-Star Author North Carolina Posts:990 Points:225,975 Joined:May 2011	Message Posted: Feb 25, 2012 11:30:19 PM Ignore TedNC Report Abuse Saudi pumps more oil and the prices are still going up. Doesn't sound like the rules of supply and demand apply here.
Felixx Sophomore Author Seattle Posts:157 Points:1,022,490 Joined:Jan 2009	Message Posted: Feb 25, 2012 11:29:43 PM Ignore Felixx Report Abuse We need alternatives!
kmaesad Rookie Author Charleston Posts:74 Points:21,520 Joined:Nov 2011	Message Posted: Feb 25, 2012 11:26:09 PM Ignore kmaesad Report Abuse Wish that I had bought stock in oil yrs ago, boy I'm paying for that now....
gsofrs Champion Author Greensboro Posts:4,143 Points:1,215,590 Joined:Apr 2009	Message Posted: Feb 25, 2012 11:21:49 PM Ignore gsofrs Report Abuse Hurts Iran some.