OPEC crude oil output rises to three-year high



PARIS: -- Unfazed by tumbling prices, undeterred by low demand, OPEC raised its production of crude oil to a three-year high in November.

Failure to agree a ceiling on output at last week’s summit means members can ignore the global surplus and pump as much as they please.

As a steady rise in production continued, output rose by over 230,000 barrels a day in November to 31.7 million – the highest since April 2012.

By its own admission OPEC is producing 900,000 barrels a day more than it expects will be needed next year.

A slight fall in Saudi output is said to have been more than offset by a surge in Iraqi production.

Although several members are thought to have been opposed, OPEC’s decision to maintain output seems to be aimed at squeezing rivals out of business.

This week has seen Brent crude prices drop to a six-year low.


-- (c) Copyright Euronews 2015-12-11

another nail in the coffin for planet earth.

another nail in the coffin for planet earth.

Another nail in the coffin for many people who work in the industry.

Where are they going to store all the stuff as the stored reserves are already massive

another nail in the coffin for planet earth.

Another nail in the coffin for many people who work in the industry.

Expensive oil should be kept in storage.

It will be sold of eventually at a much better price.

Problem for opec is that all those royal family members have made use to a high burn rate.

That now needs to be sustained by selling dirt cheap.

Crazy.

another nail in the coffin for planet earth.

I doubt the planet cares.....

Even if the global warming is true, it will get a bit warmer and maybe half the human population dies but planet earth has seen far worse things.

another nail in the coffin for planet earth.

How so?

I don't understand how pumping oil from the ground, in the Middle East, is damaging planet earth.

Can you explain?

Again the Saudis are irresponsible and messing up the world!!! Nobody will invest in green energy against this oil price.. it is more than a nail in the coffin of mother earth .. we are now seeimg it burn to ashes.. World leaders should stand up against this and lobby for a sensiible price range.. two low an oil price is just as bad a too high.

another nail in the coffin for planet earth.

How so?

I don't understand how pumping oil from the ground, in the Middle East, is damaging planet earth.

Can you explain?

Feel free to research

Excerpts from http://environment-ecology.com/energy-and-environment/92-how-does-oil-impact-the-environment.html

Petroleum products give off the following emissions when they are burned as fuel:

• Carbon dioxide (CO2)
• Carbon monoxide (CO)
• Sulfur dioxide (SO2)
• Nitrogen oxides (NOX) and Volatile Organic Compounds (VOC)
• Particulate matter (PM)
• Lead and various air toxics such as benzene, formaldehyde, acetaldehyde, and 1,3-butadiene may be emitted when some types of petroleum are burned

Nearly all of these byproducts have negative impacts on the environment and human health:

• Carbon dioxide is a greenhouse gas and a source of global warming.1
• SO2 causes acid rain, which is harmful to plants and to animals that live in water, and it worsens or causes respiratory illnesses and heart diseases, particularly in children and the elderly.
• NOX and VOCs contribute to ground-level ozone, which irritates and damages the lungs.
• PM results in hazy conditions in cites and scenic areas, and, along with ozone, contributes to asthma and chronic bronchitis, especially in children and the elderly. Very small, or “fine PM” is also thought to cause emphysema and lung cancer.
• Lead can have severe health impacts, especially for children, and air toxics are known or probable carcinogens.

also add to this list arsenic and mercury!!!!

another nail in the coffin for planet earth.

How so?

I don't understand how pumping oil from the ground, in the Middle East, is damaging planet earth.

Can you explain?

I know one thing.It will be less damaging then the coal use it will be replacing

Again the Saudis are irresponsible and messing up the world!!! Nobody will invest in green energy against this oil price.. it is more than a nail in the coffin of mother earth .. we are now seeimg it burn to ashes.. World leaders should stand up against this and lobby for a sensiible price range.. two low an oil price is just as bad a too high.

The Saudis are playing a long game.

Trying to put all those frackers out of business so they can get it back over $100 a barrel.

Going to take time though, especially when Iran starts pumping again.

another nail in the coffin for planet earth.

How so?

I don't understand how pumping oil from the ground, in the Middle East, is damaging planet earth.

Can you explain?

Feel free to research

Excerpts from http://environment-ecology.com/energy-and-environment/92-how-does-oil-impact-the-environment.html

Petroleum products give off the following emissions when they are burned as fuel:

• Carbon dioxide (CO2)
• Carbon monoxide (CO)
• Sulfur dioxide (SO2)
• Nitrogen oxides (NOX) and Volatile Organic Compounds (VOC)
• Particulate matter (PM)
• Lead and various air toxics such as benzene, formaldehyde, acetaldehyde, and 1,3-butadiene may be emitted when some types of petroleum are burned

Nearly all of these byproducts have negative impacts on the environment and human health:

• Carbon dioxide is a greenhouse gas and a source of global warming.1
• SO2 causes acid rain, which is harmful to plants and to animals that live in water, and it worsens or causes respiratory illnesses and heart diseases, particularly in children and the elderly.
• NOX and VOCs contribute to ground-level ozone, which irritates and damages the lungs.
• PM results in hazy conditions in cites and scenic areas, and, along with ozone, contributes to asthma and chronic bronchitis, especially in children and the elderly. Very small, or “fine PM” is also thought to cause emphysema and lung cancer.
• Lead can have severe health impacts, especially for children, and air toxics are known or probable carcinogens.

In my question I asked how PUMPING the oil from the ground, in the Middle East, would damage planet earth. I made no mention of REFINING.

While crude oil may be extracted from the earth right now, it is not immediately refined into its many, many finished products.

My original question still remains.

another nail in the coffin for planet earth.

How so?

I don't understand how pumping oil from the ground, in the Middle East, is damaging planet earth.

Can you explain?

Feel free to research

Excerpts from http://environment-ecology.com/energy-and-environment/92-how-does-oil-impact-the-environment.html

Petroleum products give off the following emissions when they are burned as fuel:

• Carbon dioxide (CO2)
• Carbon monoxide (CO)
• Sulfur dioxide (SO2)
• Nitrogen oxides (NOX) and Volatile Organic Compounds (VOC)
• Particulate matter (PM)
• Lead and various air toxics such as benzene, formaldehyde, acetaldehyde, and 1,3-butadiene may be emitted when some types of petroleum are burned

Nearly all of these byproducts have negative impacts on the environment and human health:

• Carbon dioxide is a greenhouse gas and a source of global warming.1
• SO2 causes acid rain, which is harmful to plants and to animals that live in water, and it worsens or causes respiratory illnesses and heart diseases, particularly in children and the elderly.
• NOX and VOCs contribute to ground-level ozone, which irritates and damages the lungs.
• PM results in hazy conditions in cites and scenic areas, and, along with ozone, contributes to asthma and chronic bronchitis, especially in children and the elderly. Very small, or “fine PM” is also thought to cause emphysema and lung cancer.
• Lead can have severe health impacts, especially for children, and air toxics are known or probable carcinogens.

With reference to the final bullet point in your quote, where can I buy petroleum containing lead, in Thailand? As far as I know, leaded petroleum/gasoline is very rare in most countries (although, I could take a run up to Myanmar and bring back a tanker load). The reason I ask is that I run a very old motorcycle and currently use an additive. Yes, I know I can change the valves and seats but it's not time for major engine maintenance.

Meanwhile in Oman.....

Meanwhile in Oman.....

Careful now. The environmentalists will be outraged about how all the natural, pristine desert is being destroyed to make way for development.