Oil Prices Hit Four-Year Low on OPEC Announcement

Oil prices have fallen to a four-year low due to a surprise output increase by OPEC+ and escalating global trade war. Brent prices are down 13% in two days - heading below $65 a barrel. Prices for other commodities are also dropping. Bloomberg's Will Kennedy reports from London.
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[bogdanpanchuk]

Americans cheering for falling oil prices is like a chicken celebrating because the chef just put a pot of water on to boil. "I'm so hungry! What are we having for dinner?" chicken asks with excitement.

[Mooneypilot]

Drill Baby Drill is now Gone Baby Gone.

[elsadog]

Opec knows that people are going to stop bying petrol in favor of panic buying food .

[rayjarquejr.]

No sense buying EVs especially a Tesla now 😂

[Zindo.Majesty.HisMajesty]

So much for drill baby drill. OPEC just put a stick in the front spokes.

[Cordycep]

Opec forcing US producer to lower ooutput, US producer dont listens to any govt.

[MultiMenvafan]

My schadenfreude is limitless for oil baron profits crashing under Trump

[josephguo]

cost for shelve oil is expensive, see

[maris]

US oil companies should be really "happy".

[dewensun]

What it didn’t say is that US oil producers can only survive with high oil prices due to the high cost of drilling in the US. The limit on production by OPEC+, hence the higher price, is one of the key reason US can become the biggest oil producer. Now with them intentionally lowering the price of oil, it squeezes the US producers quite a lot more than many others

[Mooneypilot]

There goes the Trillion Dollar investment commitment by the Saudi crown prince MBS in the US.

[Extraordinary]

I like trump, but he has gone too far with those tariffs. He should step by step. Now he is just getting a trading war with everyone

[fluxfaze]

Gasoline prices have increased and today’s (April, 12) crude price is $61.50/b. HAPPY DAYS!

[random-memes-yt]

I clicked on this video because I saw oil

[mariorodriguez]

Its amazing how this reports do not mention one bit of how the electric cars are crushing the oil market... I bought an electric car 6 months ago and I haven't consumed one drop of oil in this time... I ride free with my solar panels giving me free electricity.. this year 20 million new electric cars will be riding in the streets... you keep turning your head to other causes when explaining oil crash

[marklangevin]

Lower fuel prices help offset any inflation caused by tariff's.

[okman]

Finally Drill Baby Drill Working.
Big W for mr Trump

[bipl]

BS. Lions roaring. American producers and Russia are toast.