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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:15,964 Points:1,246,175 Joined:Nov 2008	Message Posted: Feb 28, 2012 3:56:56 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:6,612 Points:1,944,415 Joined:Oct 2005	Message Posted: Feb 26, 2012 2:54:07 PM Ignore gass12 Report Abuse At lease there is no shortage.
dsaine Champion Author North Carolina Posts:1,090 Points:270,345 Joined:May 2011	Message Posted: Feb 26, 2012 5:52:58 AM Ignore dsaine Report Abuse Excellent
SavingInNC Champion Author North Carolina Posts:4,139 Points:742,105 Joined:Oct 2006	Message Posted: Feb 26, 2012 5:35:45 AM Ignore SavingInNC Report Abuse Good
numbers Champion Author North Dakota Posts:2,707 Points:782,775 Joined:Aug 2004	Message Posted: Feb 26, 2012 5:32:47 AM Ignore numbers Report Abuse Good for them and should help us
quasar502 Champion Author Lansing Posts:1,757 Points:440,150 Joined:Jan 2011	Message Posted: Feb 26, 2012 3:12:11 AM Ignore quasar502 Report Abuse Very good.
chuckwthompson Champion Author Charlotte Posts:1,875 Points:214,610 Joined:Sep 2011	Message Posted: Feb 26, 2012 1:39:54 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:26,042 Points:1,982,485 Joined:Aug 2006	Message Posted: Feb 26, 2012 1:06:36 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 Veteran Author California Posts:272 Points:93,040 Joined:Dec 2011	Message Posted: Feb 25, 2012 11:16:21 PM 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:1,449 Points:235,405 Joined:Sep 2011	Message Posted: Feb 25, 2012 10:57:54 PM Ignore SparkieMi Report Abuse Good post gasokie....
us4usa Champion Author Missouri Posts:4,424 Points:780,905 Joined:May 2008	Message Posted: Feb 25, 2012 10:31:06 PM Ignore us4usa Report Abuse They are making big bucks now...
cateyes8264 Champion Author Tennessee Posts:1,192 Points:284,040 Joined:Jul 2011	Message Posted: Feb 25, 2012 10:22:37 PM Ignore cateyes8264 Report Abuse The speculators will just keep driving the price up.
southrob Champion Author Tucson Posts:1,855 Points:341,245 Joined:Mar 2011	Message Posted: Feb 25, 2012 10:22:08 PM Ignore southrob Report Abuse we should be keeping our oil here to help our economy instead of importing it
ron98146 Champion Author Seattle Posts:1,336 Points:739,995 Joined:Jun 2008	Message Posted: Feb 25, 2012 10:21:50 PM Ignore ron98146 Report Abuse now how does supply and demand work?
Beboper Champion Author Virginia Posts:6,889 Points:1,800,765 Joined:Oct 2005	Message Posted: Feb 25, 2012 10:18:42 PM Ignore Beboper Report Abuse greed that is all it is
Number43 Champion Author Lexington Posts:6,838 Points:1,292,035 Joined:Oct 2008	Message Posted: Feb 25, 2012 10:14:29 PM 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:6,838 Points:1,292,035 Joined:Oct 2008	Message Posted: Feb 25, 2012 10:13:35 PM Ignore Number43 Report Abuse The saudi's just want to make some extra cash.
jkpsr Champion Author New Jersey Posts:2,525 Points:758,140 Joined:Jun 2005	Message Posted: Feb 25, 2012 10:11:54 PM 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:2,090 Points:416,395 Joined:Mar 2011	Message Posted: Feb 25, 2012 10:10:44 PM Ignore jetskijerry Report Abuse The rich get richer.
gocatgo Champion Author South Carolina Posts:13,298 Points:2,167,305 Joined:Apr 2006	Message Posted: Feb 25, 2012 10:10:03 PM 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:6,533 Points:1,664,045 Joined:Jan 2006	Message Posted: Feb 25, 2012 10:09:57 PM Ignore esquared Report Abuse Conserve, baby, conserve!
bra0712 Champion Author Arizona Posts:1,962 Points:413,650 Joined:Nov 2008	Message Posted: Feb 25, 2012 10:09:53 PM Ignore bra0712 Report Abuse Duh
judgemobile Champion Author Ohio Posts:5,757 Points:2,084,355 Joined:Nov 2005	Message Posted: Feb 25, 2012 10:08:04 PM 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:2,187 Points:460,385 Joined:Jan 2011	Message Posted: Feb 25, 2012 10:07:39 PM Ignore RAKARWOWSKI Report Abuse They will make big money!
edamp04 Champion Author Fort Worth Posts:2,286 Points:491,210 Joined:Nov 2010	Message Posted: Feb 25, 2012 10:07:08 PM Ignore edamp04 Report Abuse Another war
gasokie Champion Author Oklahoma Posts:2,698 Points:1,048,210 Joined:May 2007	Message Posted: Feb 25, 2012 10:04:30 PM 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:2,161 Points:1,035,785 Joined:Feb 2008	Message Posted: Feb 25, 2012 10:02:54 PM Ignore hamdriver Report Abuse Scam
blah2blah3 All-Star Author Houston Posts:805 Points:242,155 Joined:May 2011	Message Posted: Feb 25, 2012 10:02:15 PM Ignore blah2blah3 Report Abuse ok
eswi All-Star Author Madison Posts:840 Points:326,810 Joined:Mar 2009	Message Posted: Feb 25, 2012 10:01:58 PM Ignore eswi Report Abuse OK
LostAgain2009 Champion Author New Mexico Posts:1,636 Points:506,045 Joined:Apr 2009	Message Posted: Feb 25, 2012 9:56:30 PM Ignore LostAgain2009 Report Abuse Well whoop-de-doo!
tippybuddy Champion Author Ontario Posts:1,344 Points:181,235 Joined:Feb 2011	Message Posted: Feb 25, 2012 9:54:13 PM Ignore tippybuddy Report Abuse I agree it's the speculators
SparkieMi Champion Author Kalamazoo Posts:1,449 Points:235,405 Joined:Sep 2011	Message Posted: Feb 25, 2012 9:53:14 PM Ignore SparkieMi Report Abuse Interesting...
PoohMcGoo Champion Author South Carolina Posts:1,892 Points:476,505 Joined:Dec 2010	Message Posted: Feb 25, 2012 9:51:27 PM Ignore PoohMcGoo Report Abuse They don't want to push us to electric cars..
teamdist Rookie Author Greensboro Posts:51 Points:1,824,045 Joined:Nov 2005	Message Posted: Feb 25, 2012 9:51:16 PM Ignore teamdist Report Abuse george Bush strikes again.
Cuzilla Champion Author Indianapolis Posts:11,056 Points:2,062,480 Joined:Sep 2005	Message Posted: Feb 25, 2012 9:50:43 PM Ignore Cuzilla Report Abuse When the price is high, they will pump more oil - it's a no-brainer!
gd83goldwinger All-Star Author South Bend Posts:873 Points:265,810 Joined:May 2011	Message Posted: Feb 25, 2012 9:48:26 PM Ignore gd83goldwinger Report Abuse The speculators are causing the worries.
carman11 Champion Author North Carolina Posts:1,455 Points:327,645 Joined:Jun 2011	Message Posted: Feb 25, 2012 9:48:08 PM Ignore carman11 Report Abuse And the rest of the story is????
egd Champion Author Twin Cities Posts:6,516 Points:1,811,945 Joined:Mar 2005	Message Posted: Feb 25, 2012 9:46:34 PM Ignore egd Report Abuse how long will their last
drobbbb Champion Author Maryland Posts:1,923 Points:472,885 Joined:Dec 2010	Message Posted: Feb 25, 2012 9:46:17 PM Ignore drobbbb Report Abuse hopefully it helps
abcdMA Champion Author Worcester Posts:6,134 Points:1,216,155 Joined:Nov 2008	Message Posted: Feb 25, 2012 9:40:06 PM Ignore abcdMA Report Abuse that should resolve a lot of the Iranian cutback
raj_fl Champion Author Trenton Posts:1,642 Points:379,025 Joined:Oct 2010	Message Posted: Feb 25, 2012 9:39:49 PM Ignore raj_fl Report Abuse mmmm
Beaveronparade All-Star Author Hartford Posts:969 Points:292,575 Joined:Mar 2011	Message Posted: Feb 25, 2012 9:36:12 PM Ignore Beaveronparade Report Abuse I agree that we need production here. We need to be independent.
daquanabe All-Star Author Houston Posts:770 Points:158,975 Joined:Oct 2009	Message Posted: Feb 25, 2012 9:35:19 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:1,176 Points:269,505 Joined:Jul 2011	Message Posted: Feb 25, 2012 9:34:05 PM Ignore LaVonneK Report Abuse Gas prices are not about supply and demand.
bevmill All-Star Author Georgia Posts:997 Points:251,165 Joined:Apr 2006	Message Posted: Feb 25, 2012 9:33:09 PM Ignore bevmill Report Abuse We go to produce other alternatives!
chequenman Sophomore Author Ontario Posts:136 Points:137,215 Joined:Oct 2008	Message Posted: Feb 25, 2012 9:30:56 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 Veteran Author North Carolina Posts:459 Points:116,350 Joined:May 2011	Message Posted: Feb 25, 2012 9:30:19 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 Rookie Author Seattle Posts:90 Points:820,225 Joined:Jan 2009	Message Posted: Feb 25, 2012 9:29:43 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 9:26:09 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:2,338 Points:871,100 Joined:Apr 2009	Message Posted: Feb 25, 2012 9:21:49 PM Ignore gsofrs Report Abuse Hurts Iran some.